Emaar Development has reported a 66 per cent increase in property sales over the first nine months of this year.
The UAE developer, part of Emaar Properties, achieved AED 48B ($13.1B) in sales from January to September 2024, compared to AED 28.9B ($7.9B) in the same period last year. The successful launch of 50 projects in 2024 has strengthened Emaar’s market position and sets a foundation for growth.
In Q3 2024, Emaar launched “Lavita” at The Oasis, a luxury waterfront community featuring 43 six- and seven-bedroom mansions. Each home reflects one of four architectural styles, adding unique character to suit residents. The Oasis, a 100-million-square-foot community, offers wellness centres, boutique shops, and walking trails, with eco-friendly materials and energy-efficient features.
From January to September 2024, Emaar Development posted revenues of AED 12.5B ($3.4B) and an EBITDA of AED 6B ($1.6B), rising 69 per cent and 35 per cent, respectively, from 2023.
Founder Mohamed Alabbar commented: “Our performance this quarter reflects the trust our customers place in Emaar’s vision. Our strategy is focused on sustainable growth for both customers and shareholders, aligned with Dubai’s ambitions.”
Dubai’s rapid population growth, now nearing 3.8 million, has increased demand for housing, infrastructure, and services, fuelled by emerging sectors like technology, renewable energy, and healthcare, which attract skilled professionals. Emaar’s strong sales performance reflects the region’s ability to meet this growth while sustaining investment and economic expansion.
