{"id":8634,"date":"2016-03-21T00:33:07","date_gmt":"2016-03-20T17:33:07","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=8634"},"modified":"2016-03-20T21:52:48","modified_gmt":"2016-03-20T14:52:48","slug":"emaar-considers-stock-listings-for-hotels-unit-along-with-turkish-and-indian-businesses","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-considers-stock-listings-for-hotels-unit-along-with-turkish-and-indian-businesses\/","title":{"rendered":"Emaar considers stock listings for hotels unit along with Turkish and Indian businesses"},"content":{"rendered":"


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\nEmaar Properties is considering the flotation of overseas units and its hotels arm to provide it with more growth capital and to return cash to shareholders.The company has told investors that it is looking to “monetise core assets” through further initial public offerings of business divisions, such as its Turkish and Indian units, or through the creation of real estate investment trusts (Reits).
\nA spokesman for the company told The National that creating independent listed companies for individual segments or international arms of its group would “provide the businesses with appropriate financial and operational means to grow faster and become among the most successful companies in their industries”.He added that the timing of such deals “will be dependent on market conditions”.The company also filed audited accounts for 2015 on the Dubai Financial Market, which revealed that it paid Dh123.5 million for a 65 per cent stake in Mirage Leisure and Development – a development management company registered in the British Virgin Islands.
\nMirage Leisure & Development has been involved with several Emaar projects in the past and is currently working on the US$300m Opera House District for the developer in Downtown Dubai, as well as on Meraas Holding’s $2bn Bluewater Islands project and the $350m Phase IV expansion of Madinat Jumeirah for Jumeirah Group.The Emaar spokesman said the purchase of its majority stake in Mirage offered “a good fit to Emaar’s strategy of developing premium assets in the property, malls and hospitality sectors”.\u00a0
\n“Emaar is developing significantly complex projects, and the acquisition will assist in the timely delivery of quality developments and in optimising project management costs.”The filed accounts showed Emaar Properties’ net profit in the fourth quarter of 2015 of $1.03bn was 1 per cent lower than in 2014, despite a 58 per cent uplift in sales to Dh3.8bn. Full-year profit came in 24 per cent higher at Dh4.1bn on a 33 per cent increase in revenue to Dh15.3bn.
\nThe percentage of sales generated via recurring revenues at its hospitality, malls and retail arm dropped to 42 per cent of the total, from 54 per cent in 2014. However, in absolute terms recurring revenue increased by 8 per cent to Dh5.79bn.About 39 per cent of sales came from its UAE property development arm, which increased revenue by 67 per cent to Dh5.25bn during the year. Revenue for its international development arm grew by 46 per cent to Dh2.6bn, but sales at Emaar Hospitality Group declined slightly. Occupancy dropped by 1 per cent to 82 per cent, and revenue per avail\u00adable room fell by 9 per cent to Dh1,072.
\nAsjad Yahya, the head of research at Dubai-based Shuaa Capital, said that spinning off business units would be a continuation of a strategy that Emaar began in October 2014 through the listing of the Emaar Malls business and the subsequent flotation of its Egyptian arm, Emaar Misr, last August.He said that Emaar’s hotels arm is the next-strongest target for a potential IPO. It has four new properties due to open this year – The Address The BLVD in Downtown Dubai and three Rove Hotels being delivered through a joint venture with Meraas Holding.
\n“I think they’re just waiting for the right time in the market, which is the appropriate thing to do,” said Mr Yahya. “While a listing in the current market appears unlikely, if the oil price settles around current, or higher levels, and the macro environment stabilises as well, the IPO market could reopen.”mfahy@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Emaar considers stock listings for hotels unit along with Turkish and Indian businesses<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Emaar Properties is considering the flotation of overseas units and its hotels arm to...<\/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-8634","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\/p75ss1-2fg","jetpack-related-posts":[{"id":8746,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-mulls-ipos-for-international-hotel-divisions-report\/","url_meta":{"origin":8634,"position":0},"title":"Emaar mulls IPOs for international, hotel divisions – report","date":"March 21, 2016","format":false,"excerpt":"\r Dubai developer considers listing Turkish, Indian units, as well as setting up real estate investment trusts\r \r Source : arabianbusiness.com\r Read more...Emaar mulls IPOs for international, hotel divisions - report","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23045,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-denies-reports-over-1bn-megaproject-in-turkish-city\/","url_meta":{"origin":8634,"position":1},"title":"Emaar denies reports over $1bn megaproject in Turkish city","date":"August 16, 2016","format":false,"excerpt":"\r Dubai developer says \u201ccurrently not building\u201d projects in Black Sea resort of Trabzon\r \r Source : arabianbusiness.com\r Read more...Emaar denies reports over bn megaproject in Turkish city","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10408,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-and-rixos-reported-to-be-involved-in-turkish-theme-park-talks\/","url_meta":{"origin":8634,"position":2},"title":"Emaar and Rixos reported to be involved in Turkish theme park talks","date":"April 11, 2016","format":false,"excerpt":"\r \r The Dubai developer Emaar Properties is said to be in talks with the Turkish hotel group Rixos to partner in a theme park project in Turkey, according to Turkish media reports. Emaar did not confirm the talks or disclose details. \"Appropriate disclosures are made only subsequent to finalisation\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":85352,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arada-emaar-ink-deal-to-launch-new-hotels-in-sharjah\/","url_meta":{"origin":8634,"position":3},"title":"ARADA, Emaar ink deal to launch new hotels in Sharjah","date":"April 12, 2018","format":false,"excerpt":"\r Agreement signed to add more than 600 rooms across three hotels in Sharjah's Aljada mega project\r \r Source : arabianbusiness.com\r Read more...ARADA, Emaar ink deal to launch new hotels in Sharjah","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52750,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-hospitality-group-unveils-six-new-hotels\/","url_meta":{"origin":8634,"position":4},"title":"Emaar Hospitality Group unveils six new hotels","date":"April 24, 2017","format":false,"excerpt":"\r Emaar Hospitality Group, the hospitality and leisure arm of Emaar Properties, unveiled six new hotels as part of its regional and international expansion at Arabian Travel Market (ATM) in Dubai. The expansion will come across Emaar's three hotel brands, the premium Address hotel and resorts, the upscale Vida Hotels\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57888,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-to-open-address-hotels-resorts-site-near-grand-mosque-in-mecca\/","url_meta":{"origin":8634,"position":5},"title":"Emaar to open Address Hotels + Resorts site near Grand Mosque in Mecca","date":"June 14, 2017","format":false,"excerpt":"\r Emaar Hospitality Group has signed a deal with Jabal Omar Development to operate a new Address Hotels + Resorts project in Mecca, close to the Grand Mosque.The Jabal Omar Address Makkah property will have 1,490 hotel rooms and suites - some of which will be available for freehold purchase.\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\/8634"}],"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=8634"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/8634\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=8634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=8634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=8634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}