Press releases, Reports & Disclosures for 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 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.

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.

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