On Monday, Emaar Properties records the highest sales revenue of Dh33.76 billion ($9.192 billion), a significant increase of 209 percent in property sales compared to the 2020 sales of Dh10.902 billion ($2.968 billion) since its incorporation in 1997.
“Underlining the robust performance of its real estate business as well as the strong performance of recurring revenues from its shopping malls, retail and hospitality businesses, Emaar’s 2021 revenue stood at Dh28.270 billion ($7.697 billion), an increase of 57 percent compared to 2020.
“Emaar reported a net profit of Dh3.8 billion ($1.035 billion) for 2021 compared to the net profit of Dh2.109 billion ($574 million) in 2020, a growth of 80 percent,” the company said in a statement on Monday.
With a solid sales backlog of Dh46.057 billion ($12.539 billion), which will be recognized as future revenue for Emaar Properties, the backlog reflects the strength of Emaar’s financial position to preserve high revenue, profitability, and shareholders’ return in the foreseeable future.
“Emaar’s portfolio of prime, highly sustainable assets is set to continue to benefit from the fundamental shifts occurring within the real estate market as well as the company’s approach to portfolio optimization,” Mohamed Alabbar, founder of Emaar Properties, said.
He said Emaar has a substantial development pipeline and landbank, which, when combined with its high-quality loyal customer base and expanding talented and dedicated team, leaves Emaar well-positioned to execute on its clearly defined strategy and to successfully deliver attractive, sustainable returns for all stakeholders.
“As one of the most dynamic and growing markets in the world, Dubai’s property market is a testament to the strength and resilience of the UAE as a nation and Emaar is proud to lead the way forward,” Alabbar said.
They have handed over 81,600 plus residential units in Dubai and all over the world till now. Furthermore, there are 24,500 plus units currently under development in Dubai and 10,700 internationally.
Thus, Emaar reflects robust project execution capabilities that keep investors’ interest in their properties high.
