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MarketScreener Homepage  >  Equities  >  DUBAI FINANCIAL MARKET  >  Emaar Development PJSC    EMAARDEV   AEE001901017

EMAAR DEVELOPMENT PJSC

(EMAARDEV)
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Emaar Development : to develop tourism complex at new Beijing airport

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06/03/2019 | 03:19pm EDT

Beijing Daxing International Airport is set to be the largest airport in the world.

At a ceremony held at the China National International Convention Center, Dubai-based global developer Emaar signed a memorandum of understanding with Beijing New Aeropolis Holdings (BNA) to jointly develop a business and tourism complex within the aero-economic area of Beijing Daxing International Airport, set to be the largest airport in the world. The complex will be a one-stop solution for retail, entertainment, office, hospitality, convention, sports, art and lifestyle.

Emaar and BNA will work closely to drive diversified collaboration and actively accelerate the share of resources to boost the establishment of the aero-economic area.

Emaar is a property developer and provider of premium lifestyles based in Dubai, and is present in 13 countries. Emaar develops master-planned communities and lifestyle destinations in several high-growth markets globally. The group has a land bank of 1.6 billion square feet in the UAE and key international markets.

Some of its trophy developments include Downtown Dubai — home to Burj Khalifa and The Dubai Mall; Dubai Marina, one of the Middle East region’s largest waterfront developments; and Emaar’s new development Dubai Creek Harbor. Emaar has strong income-generating assets, with over 915,000 square meters of rental income assets and 19 hotels and resorts under its different businesses — Emaar Development, Emaar Malls, Emaar Hospitality Group and Emaar Entertainment.

Emaar has built many landmark projects in the Middle East, North Africa, the US, Europe and South Asia. The group also plays an important role in driving the China-UAE strategic partnership, and is actively exploring the Chinese market as part of the Belt Road Initiative.

(c) Copyright: Arab News 2019 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
EMAAR DEVELOPMENT PJSC 2.18% 4.21 End-of-day quote.-6.58%
EMAAR MALLS PJSC 0.52% 1.92 End-of-day quote.6.15%
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Financials (AED)
Sales 2019 13 962 M
EBIT 2019 5 130 M
Net income 2019 3 996 M
Finance 2019 5 110 M
Yield 2019 12,4%
P/E ratio 2019 3,75x
P/E ratio 2020 4,49x
EV / Sales2019 0,84x
EV / Sales2020 0,64x
Capitalization 16 840 M
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 5,26  AED
Last Close Price 4,21  AED
Spread / Highest target 66,3%
Spread / Average Target 24,9%
Spread / Lowest Target -10,7%
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Managers
NameTitle
Bader Saeed Hareb Chief Executive Officer
Mohammed bin Ali Rashed Al-Abbar Chairman
Sunil Grover Chief Financial Officer
Ahmed bin Jamal bin Hassan Jawa Non-Executive Director
Jamal Majid Khalfan bin Thaniah Vice Chairman
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