2nd Annual General Meeting of Emaar Malls on April 18 to Propose 10% Cash Dividend

Business

2nd Annual General Meeting of Emaar Malls on April 18 to Propose 10% Cash Dividend

The second Yearly General Meeting (AGM) of Emaar Malls (DFM: EMAARMALLS), the shopping center and retail business majority-owned by Emaar Properties, will be held on Tuesday, April 18, 2017, 5pm, at the Diamond Ballroom of The Address Dubai Shopping mall hotel in Downtown Dubai. If the AGM disappoints quorum, the following meeting will be held on Thursday, April 27, 2017, at the same time and location.

The AGM will certainly review the proposal of the Board to distribute cash money returns to investors amounting to AED 1.3 billion, standing for 10 percent of the share funding being 10 fils each share for 2016. Additionally, seven directors of the Board will additionally be elected by the investors by secret ballot.

The meeting will certainly also receive and authorize the report of the Board of Directors on the activities and financial position of the company in addition to the auditor's record and the company's annual report for the finishing December 31, 2016. The auditor for 2017 will certainly also be appointed.

Shareholders are requested to upgrade their get in touch with information and addresses with the Dubai Financial Market to make certain the rewards are gotten suitably, as the payment of dividends, if any, will certainly be made through the Dubai Financial Market.

Emaar Malls recorded a net revenue of AED 1.874 billion (US$ 510 million) and earnings of AED 3.227 billion (US$ 879 million) in 2016. The shopping malls possessions of Emaar Malls - The Dubai Mall, Dubai Marina Shopping center, Souk Al Bahar, Gold & Diamond Park and the community mall - welcomed 125 million visitors throughout 2016, with gross leasable location (GLA) occupancy degrees balancing at 96 percent.

With a gross leasable location of about 6 million sq feet in Dubai, Emaar Malls is increasing The Dubai Mall's Style Opportunity by an additional 1 million sq feet built-up location. Additionally, brand-new retail and recreation chances are being developed for retailers and customers with the Boulevard, Water fountain Sights and Zabeel growths of The Dubai Mall.

Emaar Malls is additionally establishing devoted retail precincts in Dubai Creek Harbour and Dubai Hills Estate. Several other community shopping center projects are also being planned to offer Emaar's integrated way of lifestyle developments.