Read Board..32% owned by Gov't.EMAAR Properties is the largest land and real estate developer in the Gulf region. The company was established in 1997, with an initial paid-up capital of AED 1 bn. The firm had a mandate to develop a diversified portfolio of high quality properties - housing communities, offices, shopping centers and tourist sites - and to provide a comprehensive range of property related services, primarily in Dubai.
EMAAR's strong support from the government, which holds a 32% equity stake, has granted it a large strategic land-bank that has a total value estimated at AED 23 bn. EMAAR's portfolio of projects includes the following: 1.
Dubai Marina: man-made waterfront to be completed by June 2005 at a cost of AED 4.52 bn. 2. EMAAR Towers: 168 Freehold apartments completed at a cost of AED 148 mn. 3. Arabian Ranches: AED 2,376 mn development including 3,691 units, golf course and equestrian center with polo ground.
4. Burj Dubai: Tallest structure in the world to include residence, commercial outlets, hotel, and entertainment that costs AED 9 bn. 5. Emirates Living: includes 5 residential projects. EMAAR also owns and controls the following subsidiaries:
" Amlak Finance: Property financing company with a paid-up capital of AED 750 mn that lends medium and long-term mortgages.
" Dubai Bank: Established in 2002 to provide retail & commercial products & services. Paid-in capital was raised to AED 500 mn.
" Sahm Technologies: Established in 2001 and owns telecom infrastructure for EMAAR developments.
" Emrill: JV with UK-based Carillion and provides energy management, mechanical and engineering maintenance, and sanitation services.
" JV with Armani to develop luxury hotel chain in Dubai, Milan, London, Paris
Shareholding Groups
Individuals 34%
Institutions N/A
Floating 34%
Government 32%
Board Members (Listed in alphabetical order)
Director Abdul Aziz Aabdallah Al Ghurair
Vice Chairman Mohamed Khalfan Bin Kharbash
Chairman Mohamed Ali Alabbar
Director Mohamed Ibrahim Al Shibani
Director Salem Rashed Al Mohannadi
Director Sultan Ahmed Khalfan Al Ghaith
Stock Performance
Market Information
Stock UAE Index
Last Closing AED 10.8 3633.87
YTD % -53.145% -38.81%
Weekly % -4.425% -2.31%
Year High AED 24.55 6209.2
Year Low AED 10.65 3551.93
52 Week High AED 28.74 6830.89
52 Week Low AED 10.65 3551.93
BETA 3.978
Outstanding Shares 6,096,325,000
Market Cap AED 65,840,310,000
Market Cap in $ USD $17,925,485,979
% of UAE Market 12.30%
% of Sector 86.79%
Rank by Cap 2
Key Figures in '000 AED
2004 2003 2002
Total Assets 12,755,857 9,205,685 6,637,607
Shareholder's Equity 7,501,898 6,395,691 5,604,316
NIAT 1,690,557 676,342 516,980
Dividends 344,500 318,000 265,000
Financial Ratios
2004 2003 2002
Assets Growth 38.57% 38.69% -64.37%
Earning Growth 149.96% 30.83% 51.20%
ROaA 15.40% 8.54% 4.09%
ROaE 24.33% 11.27% 4.34%
No. Of Shares 2,650,000,000 265,000,000 265,000,000
EPS 0.64 2.55 1.95
EPS Growth 149.96% 30.83% 51.20%
Payout Ratio 20.378 47.018 51.259
Valuation Ratios
Trailing
PE 38.95
PB
DVPS 0.06
Div Yield 0.52%
EV 33,390,000.00
EV/Equity 4.45
