Emaar Properties PJSC — Board/Management Information 2014

Dec 31, 2014

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Press Release

Emaar announces new organisation structure to drive the company into next era of growth

Dubai, UAE; December 13, 2014: Global property developer Emaar Properties has announced its new organisational structure to drive sustained value creation for its stakeholders, and to power the growth of the company with a focus on professional project management, timely delivery and world-class customer service.

Mohamed Alabbar, Chairman of Emaar Properties, said the new organisational structure draws on the Dubai Plan 2021 announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai.

“As Dubai builds its future as a smart, sustainable city and a preferred place to live, work and visit, Emaar is creating a fresh template for its sustained growth and value creation. In today’s maturing property market, our priority is to manage and deliver our projects efficiently through our team of experienced professionals. They are supported by a new cadre of young professionals, led by Emaar’s core values of developing quality-driven projects, timely delivery and excellent customer service while further enhancing the value of our masterplannned communities.”

Mr. Alabbar added that Emaar, under its new organisational structure, will continue to develop prime real estate assets in its home-market of Dubai and other high-growth international markets, as well as strengthen its competencies in shopping malls & retail, and hospitality & leisure.

“Among the key strategic directions defined by the new organisational structure are our concerted efforts to strengthen Project Management in Dubai. A seasoned professional has been appointed to head Emaar’s Project Planning & Programming Department for developing appropriate project management programmes and ensuring the timely completion and onschedule delivery of Emaar’s projects,” he said.

Mr. Alabbar added that in today’s age of incredible advancements in information technology and the enormous reach of social media networks, it is essential for any company to analyse customer’s behaviour on regular basis and implement proactive strategies.

“As part of this, Emaar has established a Customer Relationship Management department, which will be responsible for developing customer loyalty to the company’s products and services by regularly analysing internal and market data.”

Emaar’s new organisation structure includes Amit Jain who has been promoted to Group Chief Operations Officer and Chief Executive Officer - Emaar Dubai. He will be responsible for the overall operations and financial matters for the Group with a special focus on the Dubai operations.

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The other senior managers of Emaar include: Mohamed El Dahan & Ozan Balaban (CEOs – Regional); Ahmed Al Falasi (Executive Director – Group Operations); Osama Sabboubeh (Executive Director – Projects Dubai); Osama Abou El-enain (Executive Director – Development Dubai) and Rasha Hassan (Chief Commercial Officer). All of these senior professionals have over eight years or more of work experience with Emaar group. Emaar has also appointed Clare Elliot as Group Head of Human Resources.

Additionally, Deepak Jain , who has significant expertise in strategy development for real estate projects as Regional Director for Strategy – MENA at JLL, will join as Chief Strategy Officer in January, 2015.

Noel Madigan , with over 32 years of experience in Australia, Indonesia and the Middle East, will head the Project Planning & Programming Department reporting to the Managing Director and Khalid Dalil has been appointed as head of the Customer Relationship Management Department.

Fred Durie , formerly CEO of Emaar International, will continue to serve on the boards of Emaar joint ventures in Jordan and India. Robert Booth , who has been serving as Chief Executive Officer – Emaar Real Estate Dubai, will continue to work with the company in an advisory capacity to the Emaar Chairman.

“The organisational structure highlights our strategy of honouring merit and encouraging talented professionals to join us in our ambitious growth journey,” said Mr. Alabbar. “Our iconic projects in Dubai are the result of global collaborations with some of the world’s brightest talents.”

With assets of AED 64.93 billion (US$ 17.68 billion) as of 2013 end and an impressive land bank of over 226 million sq m in high-growth international markets, Emaar has launched several new major projects this year, which received strong investor response.

These include the Dubai Creek Harbour at The Lagoons in a joint venture with Dubai Holding, Dubai Hills Estate with Meraas Holding, the expansion of Arabian Ranches and The Opera District in Downtown Dubai, among others.

In 2014, Emaar announced one of the largest dividends by any listed company in the UAE of AED 17.12 billion (US$ 4.66 billion) highlighting its successful model of value creation.

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About Emaar Properties PJSC:

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa and Asia. One of the world’s largest real estate companies, Emaar has total assets of nearly US$19 billion and a land bank of more than 226 million sq m in key international markets.

With a proven track-record in delivery, Emaar has handed over 37,500 residential units in Dubai and other global markets since 2001. Emaar has over 690,000 sq m of recurring revenue generating assets, and 12 hotels and resorts, with over 1,900 rooms. Today, over 60 per cent of the company’s revenues come from its shopping malls & retail and hospitality & leisure subsidiaries and international operations. Burj Khalifa, the world's tallest building, and The Dubai Mall, the world’s largest shopping and entertainment destination, are among Emaar’s trophy developments. www.emaar.com

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For more information, please contact: Kelly Home / Nivine William ASDA’A Burson-Marsteller +9714 4507 600 kelly.home@bm.com; nivine.william@bm.com