Emaar Properties, the world's second largest real estate investor, was founded in 1997 by its president, Mohamed Alabbar, and is headquartered in Dubai, where it is 32.5% owned by the Dubai government, with the Burj Khalifa (Khalīfa tower; formerly known as Khalīfa tower (formerly known as Burj Khalifa) is the flagship project of Imal Properties. Imal Properties was ranked 953rd in the Global 2000 in 2014.