Dubai – Mubasher: Emaar Development recorded 75% year-on-year (YoY) higher property sales at AED 65.40 billion ($17.80 billion) in 2024, compared to AED 37.40 billion ($10.20 billion).
The company launched 62 projects during 2024, with revenue backlog hitting AED 90.90 billion ($24.70 billion); marking an annual increase of 59%.
Revenue amounting to AED 19.10 billion ($5.20 billion) as of 31 December 2024, higher by 61% when compared to 2023, according to the financial results.
The company also recorded its highest-ever net profit before tax of AED 10.20 billion ($2.80 billion), marking a 20% YoY growth.
Dividends
Emaar Development’s board has proposed its highest-ever dividend of 68% of its share capital amounting to AED 2.70 billion ($740 million), an increase of 31% from 2023.
The proposal is subject to the approval of shareholders at the coming annual general meeting (AGM).
At the end of September 2024, Emaar Development logged 69% YoY higher revenues at AED 12.50 billion ($3.40 billion).
