EMAAR DEVELOPMENT PJSC

Ticker/ISIN
EMAARDEV
AEE001901017
Market/Country
Dubai Financial Market
United Arab Emirates
Latest Stock Price
8.04 AED
2024-07-12

Year to date

0.14 %

3 months

-0.03 %

6 months

0.23 %

1 year

0.28 %

3 years

0.00 %

5 years

0.00 %

Emaar Development PJSC (the “Company”) has operated as part of Emaar Properties since its inception in 1997. The Government of Dubai gifted Emaar Properties the initial components of its land bank in 1998. In 1999, Emaar Properties launched Emirates Living, the first major freehold integrated lifestyle masterplan community in Dubai. The second project, Dubai Marina, launched in 2000 and was shortly thereafter followed in 2002 and 2004 with the launch of the Emaar Properties’ desert-themed integrated lifestyle masterplan community, Arabian Ranches, and Downtown Dubai, its flagship community that combines commercial, residential, hotel, entertainment, shopping and leisure developments. The business of Emaar Properties was restructured to carve out the division and activities of real estate development out of Emaar Properties and transfer such division and activities to the Company since the latter is a subsidiary of Emaar Properties group.

 

After the successful carve out process and the transfer of the real estate development division and activities of Emaar Properties to the Company, the Company became the leading developer of integrated lifestyle masterplan communities in Dubai, which feature world-class residential and commercial property, shopping malls and other retail assets and high-end hospitality and leisure attractions. Redefining the traditional approaches to property development, the Company’s integrated lifestyle masterplan communities are distinguished by their world-class design, superior build quality, high quality finishes and wide range of amenities. Its integrated lifestyle masterplan concept combines retail, hospitality, leisure and other requirements of the Company’s residents within secure, well-maintained communities. In addition, the Company ensures through its collaboration with local regulators, utility companies and government agencies that the infrastructure necessary to support these residential communities, such as roads, power, water and sewage, landscaping and open recreational spaces, is in place. With the support of the Company’s parent company, Emaar Properties, the Company has developed some of Dubai’s most prestigious integrated lifestyle masterplan communities, including Emirates Living, the first major freehold community built in Dubai, and Downtown Dubai, one of the world’s most visited destinations.”

Latest Pressrelease Summaries

EMAAR DEVELOPMENT PJSC
The text contains unaudited interim condensed consolidated financial statements for the period ending 31st March 2024, provided by Emaar Development PJSC and its subsidiaries. The document is intended for those interested in the financial performance of these companies.
EMAAR DEVELOPMENT PJSC
Emaar Development reported a 50% increase in property sales in Q1 2024, reaching AED 12.9 billion (US$ 3.5 billion), compared to AED 8.6 billion (US$ 2.3 billion) in Q1 2023. The company's sales backlog increased to AED 65.7 billion (US$ 17.9 billion). Emaar Development also announced the launch of two major developments, The Heights Country Club & Wellness and Grand Polo Club & Resort, spanning over a total of 141 million square feet of land, with a combined development value of AED 96 billion (US$ 26 billion). The company's EBITDA in Q1 2024 was AED 1.7 billion (US$ 463 million), a 48% increase from Q1 2023.
EMAAR DEVELOPMENT PJSC
The Board of Directors of Emaar Development PJSC has invited its shareholders to the Annual General Meeting (AGM) on 23 April 2024, to be held both remotely and at the Address Sky View Hotel in Dubai. If the required quorum isn't achieved, the AGM will be rescheduled for 30 April 2024. The agenda includes the approval of the company's financial reports for the fiscal year ending 31 December 2023, consideration of a dividend distribution, approval of board remuneration, discharge of board and auditors' liability, appointment of auditors for the next fiscal year, and approval for board members to engage in company activities. Shareholders can vote on resolutions through the registrar's website and can attend the meeting in person or electronically. Special written proxies can be used to delegate voting rights. The company's financial statements and governance report are available online.
EMAAR DEVELOPMENT PJSC
The text presents the consolidated financial statements of Emaar Development PJSC and its subsidiaries for the fiscal year ending on 31st December 2023.
EMAAR DEVELOPMENT PJSC
Emaar Development reported a 25% increase in property sales, reaching AED 28.9 billion (US$ 7.9 billion), and a 43% increase in net profit to AED 4.1 billion (US$ 1.1 billion) for the first nine months of 2023. The company introduced Palmiera at The Oasis, a new luxury lifestyle landmark in Dubai. Emaar Development's sales backlog increased to AED 59.6 billion (US$ 16.2 billion), which will be recognised as future revenue. The company's successful performance is attributed to the launch of 20 new projects. Emaar Development delivered over 7,800 residential units in prime locations in the first nine months of 2023 and has over 27,000 residences currently under development in the UAE.

Threads

Page 1
ConsumerNinja

ConsumerNinja

Commented on RealEstateKings Transaction regarding EMAAR DEVELOPMENT PJSC

Interesting move grabbing EMAAR DEVELOPMENT PJSC at 6.84 AED! Real estate and utilities make a solid combo. Diversifying into consumer staples next, perhaps? 🏠📈 #SmartInvesting
Dubai Financial Market News

Dubai Financial Market News

News Update From EMAAR DEVELOPMENT PJSC

Disclosure: Financial statements for the first QTR of 2024

The text contains unaudited interim condensed consolidated financial statements for the period ending 31st March 2024, provided by Emaar Development PJSC and its subsidiaries. The document is intended for those interested in the financial performance of these companies.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From EMAAR DEVELOPMENT PJSC

Disclosure: Press release

Emaar Development reported a 50% increase in property sales in Q1 2024, reaching AED 12.9 billion (US$ 3.5 billion), compared to AED 8.6 billion (US$ 2.3 billion) in Q1 2023. The company's sales backlog increased to AED 65.7 billion (US$ 17.9 billion). Emaar Development also announced the launch of two major developments, The Heights Country Club & Wellness and Grand Polo Club & Resort, spanning over a total of 141 million square feet of land, with a combined development value of AED 96 billion (US$ 26 billion). The company's EBITDA in Q1 2024 was AED 1.7 billion (US$ 463 million), a 48% increase from Q1 2023.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From EMAAR DEVELOPMENT PJSC

Disclosure: Earnings Call

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From EMAAR DEVELOPMENT PJSC

Disclosure: Resolutions of General Assembly

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From EMAAR DEVELOPMENT PJSC

Disclosure: Integrated report for the year 2023

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From EMAAR DEVELOPMENT PJSC

Disclosure: Invitation of General Assembly

The Board of Directors of Emaar Development PJSC has invited its shareholders to the Annual General Meeting (AGM) on 23 April 2024, to be held both remotely and at the Address Sky View Hotel in Dubai. If the required quorum isn't achieved, the AGM will be rescheduled for 30 April 2024. The agenda includes the approval of the company's financial reports for the fiscal year ending 31 December 2023, consideration of a dividend distribution, approval of board remuneration, discharge of board and auditors' liability, appointment of auditors for the next fiscal year, and approval for board members to engage in company activities. Shareholders can vote on resolutions through the registrar's website and can attend the meeting in person or electronically. Special written proxies can be used to delegate voting rights. The company's financial statements and governance report are available online.

1. Attached Document 2. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From EMAAR DEVELOPMENT PJSC

Disclosure: Financial statements for the year of 2023

The text presents the consolidated financial statements of Emaar Development PJSC and its subsidiaries for the fiscal year ending on 31st December 2023.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From EMAAR DEVELOPMENT PJSC

Disclosure: Results of BOD meeting

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From EMAAR DEVELOPMENT PJSC

Disclosure: BOD meeting

1. Attached Document

Page 1