The past three years have been extremely challenging for the world economy, with its impact playing out over all sectors of the economy and across all geographies. Despite this challenging environment, Emaar Properties recorded good accomplishments which are a mark of our inherent strength and robust fundamentals.
Presently, Burj Khalifa, the crowning glory of Emaar, soars 828 meters into the sky. This singular feat of architecture and engineering reminds us that dreams, when grounded on firm foundations, will result in world-class achievements.
Beyond our home market in the UAE, we have invested in several key global markets. As a well-known brand in the hospitality sector, we are teaming up with the Armani brand to develop luxury hotels and resorts across the world with properties already opened in Dubai and Milan, and the next in Marrakech. The Address Hotels + Resorts, our hotel brand, has a portfolio of five hotels in Dubai and has signed several management agreements in Morocco and France.
Morocco is an emerging market at the crossroads of Europe, Africa and the Middle East. It has a strong economic outlook reinforced by political stability and an energetic integrated tourism policy targeted at developing coastal resorts and adequate infrastructure. As a responsible developer, Emaar is developing its projects through strategic partnerships with the Government of Morocco, integrating the natural, social and economical specificities of each site. The signature of these agreements under the patronage of His Majesty King Mohammed VI is an expression of our engagement to promote projects which will enrich the exceptional landscape of Morocco, its architecture and cultural inheritance.
We are continuously adopting a cautious approach and focusing on the timely completion of existing projects in Dubai and other global markets through efficient resource optimisation.
At the heart of Emaar is a firm belief that we should serve our customers with the most care. It is our customers who truly build our brand value. Emaar is not only in the business of building large, self-contained communities but in supporting modern lifestyles in line with the local tradition and practices. And when you aim that high, anything less than excellence is not an option. Our developments in Morocco will meet international standards and will provide long-lasting value to the investors.
Our mission today is to transform Emaar into a one-stop global lifestyle provider, including homes, work, leisure, retail, finance and more.