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HE General Meeting of Emaar Development), the UAE build-to-sell property development business majority-owned by Emaar Properties PJSC, approved the distribution of AED1.04 billion ($283.15 million), representing 26 percent of the share capital being 26 fils per share, as special cash dividend to the company’s shareholders. The special dividend was approved just as the company marks a year of its successful listing on the Dubai Financial Market.

The flagship developer of the UAE, Emaar Development has an impressive portfolio of 10 world-class destinations. These include the wholly-owned mega-developments such as Downtown Dubai, Arabian Ranches, Dubai Marina and Emirates Living; joint venture projects including Dubai Hills Estate, Emaar South and Zabeel Square; and a joint development project – Dubai Creek Harbour, the 6 square kilometer mega-development by the historic creek, anchored by the new global icon, Dubai Creek Tower. Another key development is Emaar Beachfront, a 10 million square feet of Miami style destination offering exclusive access to residents to a private beach and uninterrupted views of the Arabian Sea, The Palm Jumeirah, Dubai Marina and the Dubai skyline. — SG