Throughout 2024, Emaar Development launched 62 projects across its master plans
Emaar Development recently held its Annual General Meeting (AGM), where the Board of Directors reviewed the company’s financial performance for 2024 and discussed its future growth strategy.
During the AGM, shareholders approved the Board of Directors’ proposal to distribute a dividend of AED 2.7n (US$ 740mn), representing 68% of the share capital. The Board’s report on the company’s activities and financial position, as well as the Auditor’s report, were also approved.
Emaar Development reported property sales of AED 65.4bn (US$ 17.8bn) in 2024, reflecting a 75% increase compared to the previous year. The company’s revenue backlog reached AED 90.9bn (US$ 24.7bn), supporting future revenue growth.
Total revenues
Total revenue for the year amounted to AED 19.1bn (US$ 5.2bn), up 61% from 2023, while net profit before tax increased by 20% to AED 10.2bn (US$ 2.8bn).
Throughout 2024, Emaar Development launched 62 projects across its master plans, further strengthening its presence in the market and reinforcing its commitment to shaping high-quality communities. The company also acquired 141mn sqft of prime development land, with a total development value of AED 96bn.
“Looking ahead to 2025, we will further strengthen our commitment to introducing new developments that align with our vision for sustainable urban growth, while supporting economic growth and nurturing the next generation of talent,” commented Mohamed Alabbar, Founder, Emaar.
