The tallest building in the world
Emaar, the leading luxury property developer from UAE will be showcasing some of their best and new projects at LPS Beijing 2018 as Main Sponsor and as an exhibitor. Today, the organizer is glad to present you an exclusive interview with the Managing Director of Emaar, Mr. Ahmad Al Matrooshi.
Mr. Ahmad Al Matrooshi, Managing Director, Emaar Properties PJSC
Mr. Ahmad Al Matrooshi: Emaar Properties is the one of the world’s leading property developers and provider of premium lifestyles with a presence in over 12 countries. Listed on the Dubai Financial Market, Emaar brings a heritage of over 20 years, having pioneered the concept of integrated master-planned communities in Dubai, and taking the successful model to international markets.
Emaar is renowned for conceptualising and delivering global icons such as Burj Khalifa-the world’s tallest building; The Dubai Mall, the world’s largest and most-visited retail and lifestyle destination; The Dubai Fountain, the world’s tallest performing fountain; and Dubai Opera, a leading cultural and entertainment hub.
However, Emaar stands for much more than record-breaking development. We redefine lifestyles and bring a sense of belonging to thousands of home-owners, including many investors from China.
Dubai Creek Tower
Set to become the world’s tallest structure
Mr. Ahmad Al Matrooshi: Since 2002, we’ve handed over 45,900 residential units in Dubai and international markets, with over 34,800 units delivered in UAE alone. In 2017, we reported total revenue of $2.413 billion, a growth of 28 per cent over 2016, underpinning our strong financial fundamentals.
Emaar has also successfully expanded to malls & retail and hospitality & leisure – with The Dubai Mall, one of the most-preferred destinations for luxury shopping by Chinese visitors, and the three hotel brands of Emaar Hospitality Group – Address Hotels + Resorts, Vida Hotels and Resorts and Rove Hotels – welcoming visitors from around the world. Each of the businesses under Emaar is growing at 20 to 25 per cent, with the group firmly positioned to double its growth in the next five years.
Committed to timely project delivery and world-class quality of development, Emaar has several ambitious developments in Dubai that are envisaged as the cities of the future. These include Dubai Creek Harbour, which has at its heart a new global icon-Dubai Creek Tower, set to become the world’s tallest structure, a six square kilometre development only 10 minutes away from the Dubai International Airport, which has at its heart a new global icon, Dubai Creek Tower, and a world-class new retail precinct that redefines the future of retail. Emaar has an exceptional team of over 7,000 employees – dreaming big, working together with integrity and delivering fast.
Mr. Ahmad Al Matrooshi: Emaar builds exceptionally designed world-class developments that bring transformational growth. Enriching lives by bringing a sense of belonging to residents, Emaar focuses on caring, delighting and delivering lasting value for its stakeholders. This is reflected in Emaar’s developments that stand out for their world-class design, superior quality of build, exceptional finishes and timely delivery.
These values are underpinned in Emaar’s developments, including its 500-acre flagship Downtown Dubai, which is home to Burj Khalifa, The Dubai Mall and The Dubai Fountain, in addition to luxury hotels and residences. Today, Downtown Dubai is the world’s most visited lifestyle destination. Arabian Ranches, one of the most sought-after villa communities in Dubai; Dubai Marina, one of the largest waterfront developments; and Emirates Living, a compelling collection of villa, townhouse and apartment communities, all underline the differentiating strength of Emaar in assuring a quality lifestyle and long-term returns.
Defining a new approach to integrated living, residents in Emaar’s communities have every lifestyle aspect in close proximity – hotels, malls, leisure attractions and more – all in well-networked, connected developments that focus on the well-being of the residents.
Mr. Ahmad Al Matrooshi: China is one of our key markets with several Chinese investors buying into and living in our communities. In fact, with the opening of visa on arrivals, the number of Chinese tourists to Dubai has grown more than 41 per cent in 2017 – and so has demand for our homes from Chinese investors, who are seeking a home away from home in a central location that assures them long-term value.
For the Luxury Property Show in Beijing, we are not only presenting our established communities – such as Downtown Dubai, Arabian Ranches and Dubai Marina, we are also presenting our upcoming developments that have earned significant investor interest already.
These include showcase of residences in Dubai Creek Harbour as well as Emaar South, which is set near the site of the Expo 2020 Dubai and near the Al Maktoum International Airport. We are also showcasing our Dubai Hills Estate development, which has a world-class golf course and offers a serene lifestyle amidst landscaped greens only 20 minutes from Downtown Dubai. Dubai Hills Estate will also appeal to Chinese investors for the new Dubai Hills Mall. We are also presenting Emaar Beachfront, our new private island destination that offers residents access to 1.5 km of private beach and seafront lifestyle amenities.
Mr. Ahmad Al Matrooshi: Dubai’s property sector is considered one of the most robust in the world, recording attractive growth in 2017 and continued positive performance this year. We have been witnessing strong sales response to our launches of residential projects from global investors, especially from China. With the surge in tourism arrivals from China and the continued growth in bilateral trade and news business investments, more Chinese investors are seeking homes in Dubai.
Our recommendation for Chinese investors is to look for three aspects – trust, credibility, and quality – and these form the very DNA of Emaar, which is underpinned by our track-delivery. Our customers trust in our ability to deliver our products on time with the highest quality.
Where most developed cities offer rental yields of 2-3 per cent, Dubai offers rental yields of 5-6 per cent while also enjoying the lowest price per square feet. Moreover, when you consider that Dubai does not have any property-, income-, capital gains- or inheritance tax, it creates a very desirable market for investors.
The key is to look for developer credentials – as highlighted by their delivery – and observed in the build-quality and post-sales customer service. Emaar is a customer-first company committed to the highest standards in design and construction, and in rapid project delivery. Our developments assure strong returns on investment and rental yields.
Mr. Ahmad Al Matrooshi: With the increased interest from our Chinese clients, Emaar has set up dedicated channels for Chinese investors. We have a website in Chinese, where our customers can browse and familiarise themselves with our different communities and developments. We have Mandarin speaking customer service representatives who will lend further support.
Additionally, Chinese customers can register their interest for any of our properties through both our website and WeChat account; soon afterwards, one of our property consultants will contact them to better understand their property needs. Finally, customers can also reach out to a list of our approved Chinese agents who will be happy to advise on the different properties we offer.