How it started
1997–2005
Emaar Properties was founded and incorporated in 1997 by chairman Mohamed Alabbar. Emaar has interests in both commercial and residential property development, as well as malls and hospitality. The Dubai government initially owned 100% of the company while the founding shareholders held 24.3% when operations as a public company commenced after the IPO in 2000. The following year, Emaar announced plans to build Dubai Marina.
In 2000, Emaar Properties was listed on the Dubai Financial Market and became the first property company to offer shares to foreign nationals. The first phase of the company's developmental projects began in 2001 when Emaar awarded the contract in a joint venture to build three of the six apartment towers.
In 2003, the company revealed its plans for a signature development project, later known as Downtown Dubai. The project consisted of two developments: Burj Khalifa and The Dubai Mall, the world's tallest building and world's largest mall respectively. Emaar International LLC was established in 2004 and signified Emaar's expansion into foreign markets. The company has undertaken projects in Africa, Asia, North America, and throughout the Middle East.
2006–present
The Dubai Mall officially opened in 2008, and Burj Khalifa in 2010. By 2014, Emaar was holding over $11.4 billion in real estate investments. In 2007, the company was majority-owned by Dubai's government. In 2009, John Laing Homes, a subsidiary of Emaar Properties which was acquired in 2006, filed for Chapter 11 bankruptcy protection in the US Court for the District of Delaware.
From Wikipedia’s article on Emaar Properties, shared under CC BY-SA 4.0.2