Emaar Properties Aiming Higher: Emaar`s Global Growth Story Arif

Emaar Properties Aiming Higher: Emaar`s Global Growth Story Arif

Emaar Properties
Aiming Higher: Emaar's Global Growth Story
Arif Amiri
Sr. Director of Investor Relations and Corporate Governance
© Emaar 2008
Emaar at a Glance
Emaar Properties is the largest publicly-listed
property developer in the MENA region
Market Cap(1):
US$19.5 bn
Land Bank(2):
519 million sqm
FY 2007 Revenues:
(US$4.8 bn)
FY 2007 Net Profit:
(US$1.8 bn)
NAV/Share(2):
AED16.89
(1)
(2)
As of 05/06/2008.
As at 31/12/2007.
© Emaar 2008
Emaar Value Creation Model
Identify Growth Markets
Acquire Significant Land at
Competitive Prices
Establish Strong Local
Partnerships
Communities with Malls, Hotels,
Education & Healthcare facilities
Build Hi-End Property
Developments
© Emaar 2008
Emaar’s Target Markets
GDP/Capita
Growth
Population
Growth
CAGR
05 - 08E
CAGR
05 - 08E
12.0%
2.1%
US
3.8%
1.0%
Western Europe
7.4%
0.3%
Eastern Europe
14.9%
-0.1%
Expected Population Growth (CAGR 2005–2008E)
6%
Our
domestic
market
5%
Our target
international
markets
4%
3%
Average Emaar
Countries
UAE
Syria
KSA
Jordan
2%
Pakistan
Algeria
Turkey
USA
1%
Libya
Egypt
India
Indonesia
Morocco
China
France
Italy
UK
Croatia
0%
Germany
Czech
Poland
Serbia
Hungary
Bulgaria
-1%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
22%
24%
Expected GDP/Capita Growth (CAGR 2005–2008E)
Source: IMF – World Economic Database (October 2007)
© Emaar 2008
Strong Record of Execution
Cumulative Number Residential Units Delivered
© Emaar 2008
Attractive Land Bank Secured at Competitive Valuations
600
519.06
500
467.9
71
Square M eters in M illions
47
400
200
200
300
200
173
171
100
40.08
15.8
53
33
17
0
2004
2005
UAE
22
2006
India
KSA
2007
Libya
Others
Notes: The above includes land held by associated companies and takes into account 100% of the land in each country (not proportionate data).
© Emaar 2008
Quarterly Sales (UAE only)
7,000
6,500
6,000
AED milliions
5,565
5,000
4,681
4,000
4,308
3,607
3,000
3,378
2,552
2,000
2,243
1,000
2,069
1,332
0
Q1-06
Q2-06
Q3-06
Q4-06
Q1-07
Q2-07
Q3-07
Q4-07
Q1-08
Q2-08
Note : Q2-08 excludes AED 2,400 million sales of Asmaran – JV in Bawadi.
Quarters
Note: Sales above are primarily off plan pre-sales (not revenue) with revenue to be recognized in future quarters in line with Emaar’s percentage completion revenue recognition.
Q2-08 excludes AED 2,400 million sales of Asmaran – JV in Bawadi.
© Emaar 2008
UAE Developments
© Emaar 2008
DOWNTOWN BURJ DUBAI
© Emaar 2008
Residential
Burj Dubai | Dubai Marina | Arabian Ranches | Bawadi | Emirates
Living | L'Ussailly | Umm Al Quwain Marina | Mushriff Heights |
Warsan Estates
© Emaar 2008
Hotels and Resorts
Armani Hotels
© Emaar 2008
Hospitality
Arabian Ranches Golf Club | Dubai Polo & Equestrian Club | Dubai
Marina Yacht Club | Hayya! | Nuran Serviced Residences | The
Montgomerie, Dubai | Al Manzil Hotel | Qamardeen Hotel | The Palace
The Old Town | The Address Hotels + Resorts
© Emaar 2008
Retail
The Dubai Mall
© Emaar 2008
Retail
Dubai Marina Mall | Souk Al Bahar | Gold & Diamond Park |
Community Plazas | Retail in Commercial Buildings
© Emaar 2008
Healthcare
Community clinics, under third party management | future
management of all facilitates through JV with Methodist of Texas, USA
© Emaar 2008
Education
Raffles Umm Suqeim School | 4 Pre-Schools| An All-Girls School &
University of the Arts | School of Hospitality Management
© Emaar 2008
International Developments
© Emaar 2008
King Abdullah Economic City
Industrial Zone | Sea Port | Business District | Education | Residential |
Retail | Hospitality
© Emaar 2008
Kingdom of Saudi Arabia
3 Residential Communities | Retail plazas in each development |
Education (under development) | Hospitality - Timeshare Abraj Al Bait
in Makkah
© Emaar 2008
India
9 Residential Projects | 4 Retail malls | 3 Commercial Project | 1
Emaar Raffles School | Hospitality | Healthcare (under development)
© Emaar 2008
Egypt
4 Residential Communities | Retail plazas in each development | 1
Mall | Education, Hospitality and Healthcare (under development)
© Emaar 2008
Turkey
2 Residential Projects | Retail and Hospitality (under development)
© Emaar 2008
Morocco
5 Residential Communities | Retail plazas | Commercial | HospitalityGulf course | Education and Healthcare (under development)
© Emaar 2008
Pakistan
2 Residential Communities | Retail plazas | Commercial | HospitalityGulf course | Education and Healthcare (under development)
© Emaar 2008
Jordan
Master Planned Community | Residential | Retail and Entertainment |
2 Hotels | First Golf Course |
© Emaar 2008
Syria
Master Planned Community | Residential | Retail – Largest Mall |
Commercial – Damascus Stock Exchange | 2 Hotels | Golf Course |
Education and Healthcare (under development)
© Emaar 2008
Indonesia
Residential | Marina | Retail | Hospitality resorts | Master Planned
development stage
North America
Canada and USA | Residential | Retail plazas
© Emaar 2008
Shareholder Value
120
18
16.89
16
100
103
Shareholders' equity as
per audited financial
statements
14
AED billions
80
12
9.53
10
70
60
8
55
40
6
AED per share
11.58
Net asset value (including
FV of land, assets and
market value of listed
securites)
Net asset value per share
37
4
30
20
26
2
0
0
2005
2006
2007
Year
© Emaar 2008
Awards | 2008
Euromoney Liquid Real Estate Awards
Best Developer, overall - MENA
Best Residential Developer - MENA
Best Mixed-Use Developer - MENA
Best Developer, overall - UAE
Best Residential Developer - UAE
Best Mixed-Use Developer – UAE
Arabian Property Middle East Awards 2008
Emaar Properties PJSC has won the ‘International Achievement’
award at the inaugural Arabian Property Middle East Awards 20
Thank You
www.emaar.com
© Emaar 2008