International Projects
Emaar has joint ventures and projects across the region covering Algeria, Egypt, India, Indonesia, Morocco, Pakistan, Saudi Arabia, Syria, Turkey and Tunisia.
Recently Emaar announced plans to expand the retail sector with investments of over US$4 billion to develop approximately 150 malls in the mega emerging markets of the Middle East, North Africa (MENA) and the Indian subcontinent.
Emaar has also made moves internationally with the acquisition of America’s “best builder” John Laing Homes for US$1 billion. The partnership with John Laing Homes is a reiteration of Emaar’s strategy of expanding its business on a global basis beyond Dubai.
In addition, Emaar has teamed up with Giorgio Armani to build and manage 10 Armani hotels and resorts across the world; an Armani hotel will feature in Emaar’s flagship Burj Khalifa tower and other locations will include Milan, London, Shanghai, New York and Tokyo.
In January 2006, the company announced plans to expand its investments into the education business within the MENA region and India. The initiative will involve the establishment of international schools in the MENA region and India offering education and an integrated curriculum for students ranging from kindergarten to tertiary levels. Emaar has already set up partnerships with internationally renowned education specialists and finalized the acquisition of existing institutions.
Emaar’s healthcare initiative, launched in March 2006, will initially be focused on the MENA and South Asia markets. Emaar’s plan involves the construction of hospitals, clinics and medical centres and investing in the provision of world-class healthcare services. With a total investment outlay of around US$5 billion over the next decade, Emaar aims to develop and manage around 100 hospitals each with 200-bed capacities and medical specialities in key centres. Emaar will provide the infrastructure as well as manage the administration and operations of the hospitals, clinics and medical centres.
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“One of the things that is most striking about the young generation is that they never talk about their own futures, there are no futures for this generation, not any of them and so naturally they never think of them. It is very striking, they do not live in the present they just live, as well as they can, and they do not plan. It is extraordinary that whole populations have no projects for a future, none at all.”
—Gertrude Stein (1874–1946)