Emaar Development Achieves Remarkable Growth in 2024
Monday, 18 November 2024
Emaar Development, one of the UAE’s leading real estate developers, has witnessed impressive growth in the first nine months of 2024. Here’s a breakdown of their achievements:
- Property Sales Soar by 66%
- Achieved Dh48 billion ($13.1 billion) in property sales in the first nine months of 2024.
- A significant increase from Dh28.9 billion ($7.9 billion) for the same period in 2023.
- Expanding Horizons with New Projects
- Launched 50 new projects across various master plans.
- Strong Financial Performance
- Reported Dh12.5 billion ($3.4 billion) in revenue, a 69% growth compared to 2023.
- Recorded an EBITDA of Dh6 billion ($1.6 billion), a 35% increase from the previous year.
- Building a Solid Future with Sales Backlog
- Sales backlog surged to Dh83.7 billion ($22.8 billion), up 47% from December 2023.
- This ensures substantial future revenue driven by sustained sales growth.
Leadership Insight
Mohamed Alabbar, founder of Emaar, expressed his pride in the company’s progress:
“Our performance this quarter reflects the confidence and trust that our customers place in Emaar’s vision. By continuing to innovate and stay ahead of market trends, we create experiences that resonate with evolving lifestyles.”
Emaar Development continues to redefine the real estate market with its commitment to innovation and excellence.
