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EMAAR has its headquarters in Dubai (United Arabs Emirates). Despite the above growth, EMAAR has still been in the verge of discussing new prospects of growth which entails geographical expansion to new and virgin lands most so the far east and North Africa (Group, 2008). The other strategy is that of product segmentation. It deals in variety of products ranging from the housing industry, hospitality and tourism industry. The company has also invested much in the Education Sector and the Health sector where it has built schools and hospitals as well as investing in the best facilities for the buildings (Group, 2008). The company as well deals in the financial instruments in the financial markets of Dubai, where last year (2010/2011) alone it traded in a turnover of over 29 billion AED in stocks (Group, 2008).
The company’s total sale of apartments in the year 2010/2011 has been estimated to be Dh 583; this has been stated as a decline of about 86% of the previous year’s sales (Group, 2008). This may be because of the economic hard time, which even caused a crush in the western economies. The revenue from such sales was estimated to be about $ 1.52 billion last year, which is still a drop of about 10%, the previous year’s revenues. The drop in revenue is attributed to and depicts a slash in prices due to stiff competition in the industry. Two major products that the company deals in are the apartments and the villas. The apartments are the largest income-generating unit with a revenue of Dh 183 in the last quarter of last year. Villas on the other hand made good sales, the sales was about Dh126.4, this was a drop though of some few percentages (Group, 2008).
EMAAR does not operate as a monopoly in its business. Just as I have mention previously it operates in a highly competitive environment where there are several
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Emaar Properties PJSC is a Dubai based Public Joint Stock Company which was incorporated in 1997 and since has established itself in the global market. It is the largest publicly-listed property developer in the MENA region (Emaar.com, 2007). The company which started as a real estate company has today diversified into various business segments.
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