{"id":46869,"date":"2017-03-06T18:00:57","date_gmt":"2017-03-06T11:00:57","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=46869"},"modified":"2017-03-06T15:10:54","modified_gmt":"2017-03-06T08:10:54","slug":"emaar-chairman-hopes-for-better-year-after-tough-2016-for-dubai-developer","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-chairman-hopes-for-better-year-after-tough-2016-for-dubai-developer\/","title":{"rendered":"Emaar chairman hopes for better year after tough 2016 for Dubai developer"},"content":{"rendered":"


\nMohamed Alabbar, chairman of Dubai’s largest listed real estate developer, Emaar Properties, said on Monday he was hoping for a better year after a tough 2016.The Arabian Gulf construction sector has slowed since mid-2014 after the slump in global oil prices forced governments to rein in spending.”We hope 2017 will be a better year. 2016 was tough for us,” Mr Alabbar said at an investment conference in Dubai.Emaar Properties, developer of the world’s tallest tower, the Burj Khalifa, reported a 56 per cent rise in fourth-quarter profit though that was partly because of an insurance payout related to a hotel fire.Its separately listed Emaar Malls subsidiary reported a 3.9 per cent rise in fourth-quarter profit.Emaar has a project backlog of US$11.4 billion, Mr Alabbar said, down slightly from the $11.7bn it said it had on February 14.This year will see the reopening of Emaar’s landmark The Address Downtown hotel in Dubai that was gutted by a fire on New Years Eve 2015. Its latest Dubai hotel The Address Boulevard opened this month.However, shares in Emaar Properties performed well last year, gaining 25.3 per cent, versus 12.0 per cent for the Dubai Financial Market’s benchmark index. So far this year the shares are up 6.7 per cent while the benchmark is basically flat. Mr Alabbar, who said he remains “cautiously optimistic” about Dubai’s property market in the coming years, has diversified his interests in the past 12 months with investments in e-commerce, technology and logistics firm Aramex.Mr Alabbar is planning to launch a Middle East e-commerce site called Noon with Saudi Arabia’s sovereign wealth fund the Public Investment Fund. Noon missed its planned launch date of January. The company has not commented publicly about the delay.* Reuters
\n
\nSource : thenational.ae
\nRead more…Emaar chairman hopes for better year after tough 2016 for Dubai developer<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Mohamed Alabbar, chairman of Dubai’s largest listed real estate developer, Emaar Properties, said on Monday...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-46869","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-cbX","jetpack-related-posts":[{"id":10000,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/failures-make-for-better-leaders-says-emaar-properties-chairman-mohamed-alabbar\/","url_meta":{"origin":46869,"position":0},"title":"Failures make for better leaders, says Emaar Properties chairman Mohamed Alabbar","date":"April 5, 2016","format":false,"excerpt":"\r \r The man whose company built Burj Khalifa knows a thing or two about scaling great heights in the business world. Mohamed Alabbar, the chairman of Emaar Properties, shared his story when he gave a talk in Abu Dhabi in February at the invitation of the Salama Bint Hamdan\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33268,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-malls-reports-higher-profit-on-rental-income\/","url_meta":{"origin":46869,"position":1},"title":"Emaar Malls reports higher profit on rental income","date":"November 6, 2016","format":false,"excerpt":"\r Emaar Malls reported a 16 per cent rise in third-quarter net profit to Dh435 million as rental income increased.The shopping malls and retail business majority owned by global property developer Emaar Properties, said that rental income for the three months to the end of September 2016 increased 8 per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54735,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-residential-launches-lift-profit-amid-positive-economy\/","url_meta":{"origin":46869,"position":2},"title":"Emaar residential launches lift profit amid 'positive economy'","date":"May 14, 2017","format":false,"excerpt":"\r A spike in the value of sales of new residential property in Dubai helped lift first-quarter profit for developer Emaar amid what its chairman calls a positive economic environment in the emirate. The developer said that its preliminary net profit for the first three months was 15 per cent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38765,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-properties-to-build-hotel-on-raks-marjan-island\/","url_meta":{"origin":46869,"position":3},"title":"Emaar Properties to build hotel on RAK's Marjan Island","date":"December 21, 2016","format":false,"excerpt":"\r Emaar Properties is set to develop thousands of hotel rooms on Marjan Island in Ras Al Khaimah, its first major project in the northernmost emirate.Dubai's largest listed property developer said that it has struck a deal to build a 2 million square foot scheme on the man-made island.It said\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25075,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-partners-with-dubai-south-for-new-development-near-al-maktoum-airport\/","url_meta":{"origin":46869,"position":4},"title":"Emaar partners with Dubai South for new development near Al Maktoum airport","date":"September 5, 2016","format":false,"excerpt":"\r Emaar Properties and Dubai South are partnering to build Emaar South, a new 7-square-kilometre development near Al Maktoum International Airport, which will be financed by a mix of equity, debt and pre-sales, officials said.Mohamed Alabbar, the chairman of Emaar Properties, and Khalifa Al Zaffin, the executive chairman of Dubai\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52105,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-keeps-focus-on-growth-at-annual-general-meeting\/","url_meta":{"origin":46869,"position":5},"title":"Emaar keeps focus on growth at annual general meeting","date":"April 18, 2017","format":false,"excerpt":"\r The Emaar Properties chairman Mohamed Alabbar has said that its board will continue to place pressure on its management to deliver profitable growth.Opening the company's annual general meeting with a PowerPoint slide showing how it had beaten profit targets for two out of the past three years, and that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/46869"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=46869"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/46869\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=46869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=46869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=46869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}