Emaar Properties shareholders approved a dividend payment representing 10 per cent of the company's share capital for 2020 at its general assembly meeting on Sunday.
Shareholders also elected a new board of directors for 2021 including Emaar Properties founder Mohamed Alabbar, Jassim Al Ali, Ahmad Al Matrooshi and Jamal Bin Theniyah during the meeting, Emaar said in a statement to the Dubai Financial Market on Sunday. Other members include Butti Obaid AlMulla, Eman Abdulrazzaq, Ahmed Jawa, Helel Saeed Almarri, and Sultan AlMansoori.
“We have been able to maintain our market position, despite the challenges brought by the pandemic and are looking forward to the development of our future innovative projects,” Mr Alabbar, said.
The company reported property sales of Dh10.9 billion ($2.96bn) for 2020, including Dh6.3bn worth of sales in the UAE.
As of the end of last year, Emaar had handed over more than 72,100 residential units since inception in 2002, more than 47,000 of which were in the UAE. It currently has more than 26,000 units under development in the UAE and 12,000 in global markets, it said.
“With the recent merger of Emaar Properties and Emaar Malls that was announced on March 2, Emaar Properties and Emaar Malls will continue to pursue the satisfaction of commercial and regulatory conditions until further notice,” the company said.
As part of that transaction, Emaar Malls shareholders (excluding Emaar Properties) will receive 0.51 Emaar Properties shares for every one Emaar Malls share held.
Emaar Malls, which owns and operates outlets including The Dubai Mall and Dubai Marina Mall, saw its full-year profit drop to Dh703.6m in 2020, down from Dh2.2bn in 2019, the company said in a filing to the Dubai Financial Market in February.
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The line up
Friday: Giggs, Sho Madjozi and Masego
Saturday: Nas, Lion Bbae, Roxanne Shante and DaniLeigh
Sole DXB runs from December 6 to 8 at Dubai Design District. Weekend pass is Dh295 while a one day pass is Dh195. Tickets are available from www.soledxb.com
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The advice provided in our columns does not constitute legal advice and is provided for information only. Readers are encouraged to seek independent legal advice.
Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
LA LIGA FIXTURES
Saturday (UAE kick-off times)
Leganes v Getafe (12am)
Levante v Alaves (4pm)
Real Madrid v Sevilla (7pm)
Osasuna v Valladolid (9.30pm)
Sunday
Eibar v Atletico Madrid (12am)
Mallorca v Valencia (3pm)
Real Betis v Real Sociedad (5pm)
Villarreal v Espanyol (7pm)
Athletic Bilbao v Celta Vigo (9.30pm)
Monday
Barcelona v Granada (12am)
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UAE currency: the story behind the money in your pockets
Company name: Play:Date
Launched: March 2017 on UAE Mother’s Day
Founder: Shamim Kassibawi
Based: Dubai with operations in the UAE and US
Sector: Tech
Size: 20 employees
Stage of funding: Seed
Investors: Three founders (two silent co-founders) and one venture capital fund
The%20Kitchen
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