Emaar Properties has been named among the world's top 10 most valuable real estate brands in 2018, according to a new ranking by Brand Finance, the brand valuation and strategy consultancy.
The first nine spots were taken by Chinese property brands but Emaar, the builder of the world's tallest tower Burj Khalifa in Dubai, was the most valuable outside China.
According to Brand Finance, the Dubai-based firm's value has jumped by 39 percent to $2.7 billion.
Emaar Properties is publicly listed in Dubai and continues to attract significant brand value for its role in developing the Dubai Mall, the world’s largest shopping mall, and the renowned Burj Khalifa, Brand Finance said.
It added that in recent years, Emaar has sought to lead a number of social responsibility efforts which have bolstered its brand, including support for the Dream for Future Africa Foundation.
"Most importantly, however, its brand continues to benefit from plans to build a range of ambitious and globally iconic developments, including the planned Dubai Creek Tower, which will overtake its own Burj Khalifa," Brand Finance said.
Globally, the list was topped by China's Evergrande with its brand value more than doubling over the last year to $16.2 billion.
The brand is China’s second-largest property developer and the owner of the Guangzhou Evergrande Taobao FC which won both the Chinese FA Super Cup and the Chinese Super League championship last season.
David Haigh, CEO of Brand Finance, said: “The global property market has endured cycles of boom and bust, and the Chinese property market is unlikely to be substantially different in the future. Evergrande is poised to ride the surge.”
Chinese real estate brands have experienced sky-rocketing revenues due to the boom in the local market in recent years, but there are some indications that the boom is coming to an end.
The National Bureau of Statistics for China observed a housing prices contraction in tier-one cities such as Beijing, Shenzhen, and Shanghai, and a slowdown in the growth of prices in tier-two and tier-three cities.For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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