Delivering Robust Growth

Fair Valuation Overview - GAV By Segment (Cont'd) - GAV: Development Properties GAV: Fixed Assets 2022 2021 2022 2021 Book Fair Book Fair Book Fair Book Fair AED Million AED Million Value Value Value Value Value Value Value Value UAE 27,762 53,059 18,708 38,014 Hotels & Convention Egypt 5,046 5,783 7,477 9,257 5,277 7,224 4,776 6,135 Center Turkey 384 394 620 618 India 7,146 12,492 8,860 11,834 District 904 904 741 741 KSA 579 766 677 894 Cooling Plant Pakistan 455 1,621 390 1,828 At The Top 221 221 235 235 USA 408 408 453 453 Leisure & 913 913 975 975 Lebanon 413 413 436 436 Entertainment Morocco 41 95 49 109 Other Assets 2,569 2,569 2,430 2,430 Syria 7 9 19 19 Total 42,241 75,040 37,689 63,462 Total 9,884 11,831 9,157 10,516 Fair valuation is carried out by CBRE and other reputable valuers for development properties (including land), investment properties and revenue generating fixed assets. The above fair value do not include fair value of unconsolidated JVs except for listed associates & Rove. Note: During the year management has re-evaluated its assessment of control over one of the hospitality entity and concluded that both the shareholders have joint control over the relevant business activities. Hence, the equity method of accounting is applied for such hospitality entity as per IAS 28, retrospectively, and comparative numbers have been restated. 70 EMAAR

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