Dubai based largest real estate firm debuts at FT Global 500 ranking
Emaar Properties PJSC, one of the largest Dubai-based real estate development firms with a significant presence in 16 countries, has highlighted its international growth and stature at the 11th FT Global 500 ranking issued by the London-based Financial Times. The ranking provides an annual snapshot of the world’s largest companies. Emaar is one of only two companies from the UAE to be ranked on FT Global 500, which includes only listed companies with a minimum of 15% equity floated on a bourse. The publication ranks Emaar at 462 with a market capitalization of over $20 billion. The other UAE company in the FT Global 500 list is Etisalat, ranked at 444.
Mohamed Ali Alabbar, Chairman, Emaar Properties, said, “The listing of Emaar Properties on FT Global 500 is the first global recognition of our Vision 2010 to become one of the most valuable companies in the world through a two-pronged approach of geographic expansion and business segmentation. The ranking, based on market capitalization, also signals the sustained investor trust in Emaar and is a reiteration of our market-leading position to add value to our shareholders. As the pioneer of master-planned communities in Dubai and having redefined the real estate sector of the country, Emaar has been focusing its efforts to become a truly global company with diversified business interests”.
The debut of Emaar Properties on the list underpins the significant growth gained by the real estate company in 2006. Emaar embarked on its international expansion only two years ago in Dubai and is ranked higher than many other global real estate companies. The realty firm has achieved impressive growth in less than 10 years of inception making the FT Global 500 ranking a creditable achievement for Emaar. The company’s net profits and revenue grew by 35 and 68% respectively in year 2006 when it acquired John Laing Homes in the US, Hamptons International in the UK and Raffles Campus in Singapore. Source
Mohamed Ali Alabbar, Chairman, Emaar Properties, said, “The listing of Emaar Properties on FT Global 500 is the first global recognition of our Vision 2010 to become one of the most valuable companies in the world through a two-pronged approach of geographic expansion and business segmentation. The ranking, based on market capitalization, also signals the sustained investor trust in Emaar and is a reiteration of our market-leading position to add value to our shareholders. As the pioneer of master-planned communities in Dubai and having redefined the real estate sector of the country, Emaar has been focusing its efforts to become a truly global company with diversified business interests”.
The debut of Emaar Properties on the list underpins the significant growth gained by the real estate company in 2006. Emaar embarked on its international expansion only two years ago in Dubai and is ranked higher than many other global real estate companies. The realty firm has achieved impressive growth in less than 10 years of inception making the FT Global 500 ranking a creditable achievement for Emaar. The company’s net profits and revenue grew by 35 and 68% respectively in year 2006 when it acquired John Laing Homes in the US, Hamptons International in the UK and Raffles Campus in Singapore. Source
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