Emaar Properties had a strong run this month on investor expectations of bigger quarterly profits from its malls and hotels after tourists flocked to Dubai during the Arab Spring.
Shares in the developer, which built the Burj Khalifa, have increased more than 6 per cent since the beginning of the month.
"Investors want to see dividends," said Haissam Arabi, the chief executive at Gulfmena Investments in Dubai. "The market will be happy if they keep up, or increase what [Emaar] paid out last year." The company paid a 10 per cent dividend for 2010, its first distribution of profit to shareholders since the onset of the global financial crisis in 2008. Analysts expect Emaar to report a profit of Dh436 million for the fourth quarter,compared with a Dh273.4m profit a year earlier.
Dubai property prices have failed to improve since unrest broke out in parts of the Middle East and North Africa, contrary to speculation that investors would regard the emirate as a haven, according to a Deutsche Bank report. But tourism has boosted hotel revenues - up 10.7 per cent per room as occupancy levels and room rates improved, data from STR Global showed.
Emaar's recurring income portfolio, which consists of Dubai Mall, Dubai Marina Mall and the Yacht Club hotel, among other assets, is expected to benefit from the increased traffic.
"The valuation implied by the market is very conservative," said Fadi Al Said, a senior fund manager at ING Investment Management. "Our view is that the recurring income portfolio is worth at least Dh2.80 per share, up from where its currently trading at Dh2.65."
The company secured a Dh3.6 billion facility last year by using the Dubai Mall as collateral to reduce short-term debt and lower financing costs.The company has US$1bn worth of debt repayment next year, according to Bloomberg News data.
"Emaar Properties is my top pick for 2012," said Mr Arabi.
halsayegh@thenational.ae
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Sri Lanka squad for tri-nation series
Angelo Mathews (c), Upul Tharanga, Danushka Gunathilaka, Kusal Mendis, Dinesh Chandimal, Kusal Janith Perera, Thisara Perera, Asela Gunaratne, Niroshan Dickwella, Suranga Lakmal, Nuwan Pradeep, Dushmantha Chameera, Shehan Madushanka, Akila Dananjaya, Lakshan Sandakan and Wanidu Hasaranga
Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Small Victories: The True Story of Faith No More by Adrian Harte
Jawbone Press
Civil%20War
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Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
Command%20Z
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Remaining Fixtures
Wednesday: West Indies v Scotland
Thursday: UAE v Zimbabwe
Friday: Afghanistan v Ireland
Sunday: Final
The specs
Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder
Power: 220 and 280 horsepower
Torque: 350 and 360Nm
Transmission: eight-speed automatic
Price: from Dh136,521 VAT and Dh166,464 VAT
On sale: now
Last five meetings
2013: South Korea 0-2 Brazil
2002: South Korea 2-3 Brazil
1999: South Korea 1-0 Brazil
1997: South Korea 1-2 Brazil
1995: South Korea 0-1 Brazil
Note: All friendlies
Brief scores:
Liverpool 3
Mane 24', Shaqiri 73', 80'
Manchester United 1
Lingard 33'
Man of the Match: Fabinho (Liverpool)
Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199
Which honey takes your fancy?
Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Klopp at the Kop
Matches 68; Wins 35; Draws 19; Losses 14; Goals For 133; Goals Against 82
- Eighth place in Premier League in 2015/16
- Runners-up in Europa League in 2016
- Runners-up in League Cup in 2016
- Fourth place in Premier League in 2016/17
Tips%20for%20holiday%20homeowners
%3Cp%3EThere%20are%20several%20factors%20for%20landlords%20to%20consider%20when%20preparing%20to%20establish%20a%20holiday%20home%3A%3C%2Fp%3E%0A%3Cul%3E%0A%3Cli%3E%3Cstrong%3ERevenue%20potential%20of%20the%20unit%3A%3C%2Fstrong%3E%20location%2C%20view%20and%20size%3C%2Fli%3E%0A%3Cli%3E%3Cstrong%3EDesign%3A%20furnished%20or%20unfurnished.%3C%2Fstrong%3E%20Is%20the%20design%20up%20to%20standard%2C%20while%20being%20catchy%20at%20the%20same%20time%3F%3C%2Fli%3E%0A%3Cli%3E%3Cstrong%3EBusiness%20model%3A%3C%2Fstrong%3E%20will%20it%20be%20managed%20by%20a%20professional%20operator%20or%20directly%20by%20the%20owner%2C%20how%20often%20does%20the%20owner%20wants%20to%20use%20it%20for%20personal%20reasons%3F%3C%2Fli%3E%0A%3Cli%3E%3Cstrong%3EQuality%20of%20the%20operator%3A%3C%2Fstrong%3E%20guest%20reviews%2C%20customer%20experience%20management%2C%20application%20of%20technology%2C%20average%20utilisation%2C%20scope%20of%20services%20rendered%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3E%3Cem%3ESource%3A%20Adam%20Nowak%2C%20managing%20director%20of%20Ultimate%20Stay%20Vacation%20Homes%20Rental%3C%2Fem%3E%3C%2Fp%3E%0A
Abu Dhabi racecard
5pm: Maiden (Purebred Arabians); Dh80,000; 1,400m.
5.30pm: Maiden (PA); Dh80,00; 1,400m.
6pm: Sheikh Zayed bin Sultan Al Nahyan National Day Cup (PA); Group 3; Dh500,000; 1,600m.
6.30pm: Sheikh Zayed bin Sultan Al Nahyan National Day Cup (Thoroughbred); Listed; Dh380,000; 1,600m
7pm: Wathba Stallions Cup for Private Owners Handicap (PA); Dh70,000; 1,400m.
7.30pm: Handicap (PA); Dh80,000; 1,600m
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
MATCH INFO
Uefa Champions League, Group C
Liverpool v Red Star Belgrade
Anfield, Liverpool
Wednesday, 11pm (UAE)
Killing of Qassem Suleimani
RESULTS
Cagliari 5-2 Fiorentina
Udinese 0-0 SPAL
Sampdoria 0-0 Atalanta
Lazio 4-2 Lecce
Parma 2-0 Roma
Juventus 1-0 AC Milan
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
- Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
- Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
- Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
