Emaar Properties on Monday announced a significant increase in property sales of 209 per cent reaching to Dh33.762 billion ($9.192 billion) compared to 2020 sales of Dh10.902 billion ($2.968 billion), demonstrating continued investor confidence in the Emaar brand. This is the highest ever property sales recorded by Emaar since its incorporation in 1997.
“Emaar’s 2021 revenue stood at Dh28.270 billion ($7.697 billion), a 57% increase over 2020, highlighting the robust performance of its real estate business as well as strong performance of recurring revenues from its shopping malls, retail, and hospitality businesses.”
“Emaar reported a net profit of Dh3.8 billion ($1.035 billion) for 2021, up from Dh2.109 billion ($574 million) in 2020, representing an increase of 80%,” the company said in a statement on Monday.
“Emaar’s portfolio of prime, highly sustainable assets is set to continue to benefit from fundamental shifts occurring in the real estate market as well as the company’s approach to portfolio optimisation,” Emaar Properties founder Mohamed Alabbar said.
He stated that Emaar has a significant development pipeline and landbank, which, when combined with its high-quality loyal customer base and expanding talented and dedicated team, puts Emaar in a strong position to execute on its clearly defined strategy and successfully deliver attractive, long-term returns for all stakeholders.
“As one of the world’s most dynamic and growing markets, Dubai’s property market demonstrates the UAE’s strength and resilience as a nation, and Emaar is proud to lead the way forward,” Alabbar said.
Since 2002, Emaar has delivered over 81,600 residential units in Dubai and international markets, demonstrating strong project execution capabilities. Currently, over 24,500 units are under construction in the UAE, with a further 10,700 units planned for global markets.
source: khaleej times