Dubai-Listed Emaar Properties’ Sales Hit Record High Of $19bln In 2024

Emaar Properties registered a 72% year-on-year (YoY) surge in property sales to AED 70 billion ($19 billion) in 2024, the highest ever it said.

Revenues reached an all-time high of AED 35.5 billion in 2024, a 33% increase YoY, bolstered by record property sales, the Dubai-listed company said.

The group’s revenue backlog from property sales surpassed AED 110 billion as of December 31, 2024, rising 55% from 2023, which indicated “robust revenue growth for the coming years”.

Net profit attributable rose 16% to AED 13.51 billion in 2024 compared to AED 11.64 billion in 2023.

Emaar acquired 141 million square feet of development land in a prime area in Dubai with a total development value of AED 96 billion.

Last December, the company announced a new dividend policy and proposed its highest-ever dividend of AED 8.8 billion for 2024, up 100% from 2023.