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MarketScreener Homepage  >  Equities  >  DUBAI FINANCIAL MARKET  >  Emaar Properties PJSC    EMAAR   AEE000301011

EMAAR PROPERTIES PJSC

(EMAAR)
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Emaar Properties : Holiday home operators ‘win status quo' against Emaar

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09/30/2019 | 09:48am EST

Holiday home operators in Dubai are facing uncertainty as the deadline given by Emaar Properties to cease their operations in Downtown Dubai expires but no consensus evolved at a meeting with the authorities concerned, it has learnt.

The short-term market players said ambiguity and indecisive policies will hurt investor sentiments as Emaar refuses to either extend the September 19 deadline for holiday home rentals or withdraw the same.

Industry sources said the operators did meet the authorities on Wednesday and were expecting an outcome to the controversy.

“We are ready for an amicable solution, but Emaar stick to its stance,” according to a source who attended the meeting.

The operators said they are hounded by their clients who had booking in Downtown Dubai and are now looking for alternative accommodations.

“Ease by Emaar will not list properties in Downtown Dubai for home stays from September 19. This is as part of our decision not to offer holiday home operations in Downtown Dubai following requests from our residents, as several of the holiday homes were used for non-residential and non-family-related activities,” said a statement from Emaar.

© Pakistan Press International, source Asianet-Pakistan

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Financials (AED)
Sales 2020 24 901 M
EBIT 2020 7 952 M
Net income 2020 6 286 M
Debt 2020 15 257 M
Yield 2020 4,09%
P/E ratio 2020 4,42x
P/E ratio 2021 4,25x
EV / Sales2020 1,73x
EV / Sales2021 1,42x
Capitalization 27 851 M
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Average target price 6,07  AED
Last Close Price 3,89  AED
Spread / Highest target 91,5%
Spread / Average Target 56,1%
Spread / Lowest Target 28,5%
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Managers
NameTitle
Amit Jain Group Chief Executive Officer
Mohammed bin Ali Rashed Al-Abbar Chairman
Avinash Pangarkar Group Chief Financial Officer
Ahmed bin Jamal bin Hassan Jawa Independent Non-Executive Director
Ahmad Thani Rashed Al Matrooshi Director & Managing Director