Emaar Properties Achieves AED 70 Billion in Property Sales for 2024
Emaar Properties PJSC (DFM: EMAAR) held its Annual General Meeting (AGM), where the Board of Directors reviewed the company’s financial performance for 2024 and outlined its strategic direction for the future.
During the AGM, shareholders approved a 100% dividend payout, amounting to AED 8.8 billion, in line with the company’s commitment to delivering value to its investors. This follows the introduction of Emaar’s updated dividend policy in December 2024. The meeting also included the approval of the auditor’s report for 2024, along with the board’s report on the company’s activities and financial position.
Emaar’s financial results for 2024 reflected strong operational performance and continued growth across its key business segments. The company recorded property sales of approximately AED 70 billion (US$ 19 billion), representing a 72% increase compared to 2023. Emaar’s revenue backlog from property sales exceeded AED 110 billion (US$ 30 billion), supporting future revenue generation.
Total revenue for 2024 reached AED 35.5 billion (US$ 9.6 billion), marking a 33% year-over-year increase, while net profit before tax grew by 25% to AED 18.9 billion (US$ 5.1 billion). EBITDA for the year stood at AED 19.3 billion (US$ 5.2 billion), with a margin of 54%.
Emaar remains focused on delivering ongoing projects as scheduled while prioritising innovation, quality, and operational efficiencies. Investments in digital transformation, talent development, and sustainable growth initiatives will continue to support the company’s long-term strategy.
Mohamed Alabbar, Founder of Emaar Properties, said: “Emaar’s 2024 results reflect our dedication to operational excellence, innovation, and customer experience. As we move forward, we remain committed to sustainable and technology-driven growth, further enhancing Dubai’s position as a leading global destination for investment and development while aligning with the UAE’s Net Zero 2050 vision.”
Looking ahead to 2025, Emaar will continue introducing new developments and lifestyle offerings, further cementing its presence in the real estate sector.
