Emaar Properties, the UAE’s leading real estate developer, has announced a series of groundbreaking projects and financial milestones, solidifying its position at the forefront of global real estate innovation.
Record-Breaking Financial Performance
In 2024, Emaar Properties achieved its highest-ever property sales, reaching an impressive AED 70 billion. This remarkable performance reflects the company’s strategic vision and the robust demand within the UAE’s real estate market. The company’s international operations also saw significant growth, with property sales amounting to AED 4.1 billion, a 40% increase compared to the previous year.
Emaar Development, a subsidiary of Emaar Properties, reported a 61% surge in revenue, totaling AED 19.1 billion. The company’s EBITDA reached AED 9.4 billion, indicating a strong margin of 49%. Net profit before tax increased by 20% to AED 10.2 billion, underscoring Emaar’s operational efficiency and market leadership.
Ambitious New Projects
Demonstrating its commitment to innovation and architectural excellence, Emaar is reportedly planning a new “super tower” in Dubai, designed to surpass the iconic Burj Khalifa in height. This ambitious project aims to redefine Dubai’s skyline and reinforce the city’s reputation as a hub for architectural marvels.
In addition to the super tower, Emaar has launched several other notable developments:
- The Oasis: A luxurious waterfront community offering residents a serene lifestyle amidst lush landscapes and premium amenities.
- Emaar Beachfront: A prestigious coastal development featuring modern residences with panoramic views of the Arabian Gulf, combining urban living with beachside tranquility.
- Dubai Hills: A master-planned community that seamlessly blends residential, commercial, and recreational spaces, promoting a holistic and sustainable lifestyle.
- The Valley: Designed for families, this community offers a range of housing options surrounded by green spaces, ensuring a harmonious living environment.
- Rashid Yachts & Marina: A maritime-inspired development providing a blend of luxury residences and world-class marina facilities, catering to yachting enthusiasts and luxury seekers alike.
Strategic Expansion in India
Emaar Properties is also strengthening its presence in India. The company’s Indian subsidiary has entered into a joint development agreement to develop a 73.60-acre land parcel in Gurugram, Haryana. This project is expected to generate approximately INR 3,400 crore in revenue, highlighting Emaar’s strategic focus on expanding its footprint in the Indian real estate market.
Shareholder Returns
Reflecting its robust financial health, Emaar Properties has announced plans to distribute 100% of its share capital as dividends, amounting to AED 8.8 billion (US$ 2.4 billion) for 2024. This move effectively doubles the dividend payout compared to the previous year, underscoring the company’s commitment to delivering value to its shareholders.
Conclusion
Emaar Properties continues to set new benchmarks in the real estate industry through its visionary projects and exceptional financial performance. With a focus on innovation, strategic expansion, and shareholder value, Emaar is poised to maintain its leadership position and contribute significantly to the urban landscapes of the future.
See also: Saudi Arabia’s Jeddah Tower to Surpass Burj Khalifa by 172 Meters
