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Emaar’s mixed pie Emaar Chairman Mohamed Alabbar said in a February 10 statement, “We see 2011 to be a signature year for Emaar with significant revenue streams from international operations kicking in.” In Syria, Emaar is developing The Eighth Gate mixed-use project, and the offices in the project’s commercial center, which will feature the Damascus Stock Exchange building, are already functional. Alabbar’s statement highlighted the firm’s expansion outside the UAE, mentioning that its residential projects in Saudi Arabia, Egypt and Turkey are progressing, while adding that The New Istanbul Project in Turkey would feature an extensive shopping mall. The firm’s growing retail and hospitality sector has paid off:  the proportion of revenues from this segment reached 24 percent, or $3.3 billion in 2010. Though Emaar posted a 31 percent increase in net profits in 2010, reaching $826 million, its fourth quarter results were gloomy in comparison to analysts’ expectations. Net