Emaar Properties (or simply Emaar) is an Emirati multinational real estate development company located in the United Arab Emirates. It is a public joint-stock company, listed on the Dubai Financial Market, and has a valuation of US$16.8 billion as of August 2023 against the Net Asset Valuation of US$37.6 billion (AED 138.1B) as of December 2022 based on the valuation of assets done by third party valuer. With six business segments and 60 active companies, Emaar has collective presence in 36 markets across the Middle East, North Africa, Asia, Europe and North America.
Emaar Properties Dubai is one of the largest real estate developers in the UAE and is known for various large-scale projects, such as developing Burj Khalifa, the tallest building in the world.
Emaar Properties was founded and incorporated in 1997 by chairman Mohamed Alabbar. Emaar has interests in both commercial and residential property development, as well as malls and hospitality. The Dubai government initially owned 100 percent of the company while the founding shareholders held 24.3 percent when operations as a public company commenced after the IPO in 2000. The following year, Emaar announced plans to build Dubai Marina. In 2000, Emaar Properties was listed on the Dubai Financial Market and became the first property company to offer shares to foreign nationals. The first phase of the company’s developmental projects began in 2001 when Emaar awarded the contract in a joint venture to build three of the six apartment towers.
