Press releases, Reports & Disclosures for Emaar Properties PJSC

In 2024, Emaar Properties PJSC achieved record-breaking financial results, with a 72% increase in property sales amounting to approximately AED 70 billion (US$ 19 billion) and a revenue backlog exceeding AED 110 billion (US$ 30 billion). The company's revenue grew by 33% to AED 35.5 billion (US$ 9.6 billion), and its EBITDA reached AED 19.3 billion (US$ 5.2 billion), with a margin of 54%. Net profit before tax rose by 25% to AED 18.9 billion (US$ 5.1 billion). Emaar also announced a new dividend policy and its highest proposed dividend of AED 8.8 billion, doubling from the previous year. The company expanded its business by acquiring 141 million square feet of development land in Dubai, valued at AED 96 billion. Emaar focused on customer satisfaction by repairing homes affected by unprecedented rain at its own expense and prioritized investing in young talent development in the UAE.

Emaar Properties PJSC and its subsidiaries have released their unaudited interim condensed consolidated financial statements for the period ending September 30, 2024.

Emaar Properties PJSC reported significant financial growth for the first nine months of 2024. Property sales increased by 60% to AED 50 billion (US$ 13.6 billion), and the revenue backlog exceeded AED 100 billion (US$ 27.2 billion). The company's revenue grew by 30% to AED 23.8 billion (US$ 6.5 billion), and net profit before tax rose by 24% to AED 12.4 billion (US$ 3.4 billion) compared to the same period in 2023. Emaar attributes its success to strong demand in Dubai's real estate market, effective project execution, and investor confidence. The company also achieved a 17% growth in EBITDA, reaching AED 12.6 billion (US$ 3.4 billion). Mohamed Alabbar emphasized Emaar's commitment to adapting to market changes and continuing to deliver luxury living experiences.