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

EMAAR DEVELOPMENT PJSC

(EMAARDEV)
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Emaar partners BNA to develop Daxing International Airport

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06/01/2019 | 08:55am EDT

At a ceremony held at the China National International Convention Centre, Dubai-based global developer Emaar has signed a memorandum of understanding (MoU) with Beijing New Aeropolis Holdings (BNA) to jointly develop a Business and Tourism Complex, integrating retail, entertainment, office, hotel hospitality, convention, sport, art and lifestyle functions in a one-stop solution within the aero economic area of Beijing Daxing International Airport, which is set to be the largest airport in the world.

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

Emaar is a leading global property developer and provider of premium lifestyles based in Dubai, UAE, 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.

In addition to Downtown Dubai home to Burj Khalifa and The Dubai Mall, which are among the worlds most popular attractions; Dubai Marina, one of the Middle East regions largest waterfront developments; and Emaars new ground-breaking development, Dubai Creek Harbour, Emaar has strong income-generating assets, with over 915,000 square metres 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 United States, Europe and South Asia, which deliver ideal lifestyles. The group also plays an important role in driving China-UAE strategic partnership, and is actively exploring the Chinese market as part of the Belt Road Initiative.

Meanwhile, Emaar Hospitality Group, the hospitality and leisure business of Emaar Properties PJSC, has recently launched a fully-integrated Mobile App that covers all the hotel, hospitality and leisure experiences under the Group.

With the single App, users will have seamless access to an extensive range of services including booking of hotels, restaurants, spas, golf and entertainment attractions using their mobile devices. The new App replaces all the earlier Apps that were launched for the individual hotel brands and leisure attractions under Emaar Hospitality Group.

The new Emaar Hospitality Mobile App is available for download both on App Store and Google Play.

Chris Newman, Chief Operating Officer of Emaar Hospitality Group, said: The launch of the new Emaar Hospitality Mobile App highlights our digital transformation focus to enhance the convenience of our guests. Replacing all the other Apps that we had launched years ago, the App further simplifies the user experience and serves as a single point source of information and to access various services. Guests from anywhere in the world can make informed decisions and plan every detail of the lifestyle choices they cherish across our hotels and leisure attractions.

With the Mobile App, guests can explore a comprehensive portfolio of hotel, hospitality and leisure services at Emaar Hospitality Groups premium luxury hotel brand Address Hotels + Resorts, the upscale lifestyle brand Vida Hotels and Resorts, as well as leisure attractions such as the Arabian Ranches Golf Club, Dubai Polo & Equestrian Club, Dubai Hills Golf Club and Dubai Marina Yacht Club. Guests can also access the services offered by Rove Hotels, developed as a joint venture of Emaar Properties and Meraas via the App. Booking restaurants under the hotels of Emaar Hospitality Group as well as the Spas is also effortless now.

The App also enables guests to consider the unique value propositions of each hotel and leisure attraction, discover its myriad facets. It has real-time connectivity with the properties and is designed to offer users a seamless way of reserving their experiences across Emaar Hospitality Groups assets.

Designed to meet the aspirations of todays mobile-first and mobile-only travellers, the Mobile App features inspiring design and exceptional imagery to strengthen the online engagement with the guests. It also provides access to city guides and highlight more targeted value-added services based on their preference.

From search to booking, online engagement and everything in between, the Mobile App has a user-friendly interface and is part of Emaar Hospitality Groups digital initiatives that draws on the incredible potential offered by the increased smartphone penetration in the region. The aim is to engage customers, enable them to customise their travel plans, and revolutionise the way reservations are made.

Emaar Hospitality Group will continue to invest in digital solutions and implement innovative strategies to increase bookings, streamline hotel operations, integrate added-value services, to deliver personalised experiences for its guests.

(c) 2019 Qatar Tribune. 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%
EMAAR PROPERTIES PJSC -0.41% 4.86 End-of-day quote.17.43%
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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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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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