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Emaar Achieves Record-Breaking Sales, Revenue, adn Profit in 2024
Mohamed Alabbar, founder of Emaar, stated, “We are really pleased with our 2024 results which is a result of us pushing our limits, doubling our targets, achieving the best efficiencies and working hard with complete focus on our customers. … In 2024, Emaar growth reported revenue of AED 19.1 billion (US$ 5.2 billion) with 61% increase …”
Emaar Development property sales records a 50% increase in Q1 2024
In the first quarter of 2024 (January to March),Emaar Development reported an EBITDA of AED 1.7 billion (US$ 463 million), 48% higher than Q1 2023. … Emaar’s founder, mohamed Alabbar, said: ” The company began the year 2024 with strong financial results, which demonstrate our superior sales execution capabilities and also our ongoing …”
Emaar Development reports 56% rise in property sales for H1 - Gulf Business
In H1 2024, the developer acquired a 60 million square foot land plot near The Oasis masterplan, with a development value of Dhs41bn ($11bn). This complements the 81 million square feet of land …The company achieved net profits of about 7.6 billion dirhams belonging to the company’s owners during the year 2024, a growth of 15 %, while net profits for the year increased 14 % to 9.7 billion dirhams. Emaar Development recorded the highest net profit ever before taxes, with a value of 10.2 billion dirhams (2.8 billion dollars), an increase of 20 % compared to 2023.
Emaar Development recorded its highest real estate sales ever, at a value of 65.4 billion dirhams ($ 17.8 billion), with a growth of 75% compared to sales of 2023, which amounted One billion dirhams (24.7 billion dollars) until December 31, 2024, an increase of 59 % compared to 2023.
Emaar Development recorded its highest revenue of 19.1 billion dirhams (5.2 billion dollars) during the year 2024, an increase of 61 % compared to 2023.
Emaar Development acquired 141 million square feet of land in major locations in Dubai during the year 2024, with a total development value of 96 billion dirhams.
“We look forward to continuing positive performance over the year 2025. We renew our commitment to launching innovative projects and exceptional products throughout our business sectors,” said mohamed Al -Abbar, founder of Emaar Properties.
Emaar’s Soaring Success: A Look at Record-Breaking Performance in 2024
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Emaar,a leading Dubai-based real estate developer,has reported phenomenal financial results for 2024,shattering records in both revenue and profit. This surge in performance has been fueled by strong demand in the Dubai property market and Emaar’s strategic expansion plans. we sat down wiht Dr. Sara Al-asad, a leading expert on the Dubai real estate market, to delve deeper into these impressive results and explore the factors driving Emaar’s success.
Record-Breaking Sales and Revenue: An Overview
Senior Editor: Dr. Al-Asad,Emaar has announced record-breaking sales and revenue figures for 2024. Can you give us a sense of the scale of this success?
Dr. Sara Al-Asad: Absolutely. Emaar Development reported AED 65.4 billion ($17.8 billion) in real estate sales for 2024, representing a staggering 75% increase compared to the previous year. This phenomenal growth underscores the surging demand for properties in Dubai. Added to this, alongside a 61% year-on-year increase, the company achieved revenue of AED 19.1 billion (US$5.2 billion) for 2024.
Key Factors Driving Emaar’s Growth
Senior Editor: What do you attribute this remarkable performance to? Are there any particular factors that have contributed to Emaar’s success?
Dr. sara Al-Asad: Several factors are at play here. Firstly, Dubai’s strategic location, business-friendly policies, and world-class infrastructure continue to attract both domestic and international investors, fueling demand for properties. Secondly, Emaar’s unwavering focus on delivering high-quality, innovative projects across various segments, from luxury residences to commercial developments, has solidified its reputation as a leader in the market. their acquisition of 141 million square feet of land in key locations during 2024 demonstrates their commitment to future growth and expansion.
Acquisitions and Future Plans
Senior Editor: Emaar made some significant land acquisitions in 2024. How do these acquisitions fit into their overall strategy?
Dr. Sara Al-Asad: These strategic land acquisitions, particularly the 60 million square foot plot near The Oasis masterplan, are crucial for Emaar’s long-term growth. They provide the company with valuable assets in prime locations, allowing them to develop new projects and expand their portfolio. This aligns with their vision of shaping Dubai’s future skyline and contributing to the city’s ongoing urban development.
A Look Ahead: Continued Success?
Senior Editor: What are your thoughts on Emaar’s prospects for future growth? Will they be able to maintain this impressive performance?
Dr. Sara Al-Asad: I’m highly optimistic about Emaar’s future.The company has a proven track record of success, a strong leadership team, and a strategic vision that is well-aligned with dubai’s growth trajectory. Dubai’s real estate market remains a major growth driver, and Emaar is well-positioned to capitalize on the opportunities that lie ahead. Their commitment to innovation and customer satisfaction will undoubtedly contribute to their continued success.
Emaar’s record-breaking performance in 2024 is a testament to its strategic foresight,commitment to excellence,and ability to adapt to the evolving market dynamics. with its enterprising expansion plans and unwavering focus on delivering exceptional experiences, Emaar is poised to remain a dominant force in the global real estate landscape for years to come.
