Image: WAM
Emaar Properties held its Annual General Meeting (AGM), where the Board of Directors reviewed the company’s financial performance for 2024 and also outlined its strategic direction for the future.
Read-Dubai developer Emaar in talks to sell stake in Indian business
It was during the meeting that the shareholders approved a 100 per cent dividend payout, amounting to Dhs8.8bn, 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
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 Dhs70bn ($19bn), representing a 72 per cent increase compared to 2023. Emaar’s revenue backlog from property sales exceeded Dhs110bn ($30bn), supporting future revenue generation.
Emaar’s total revenue for 2024 reached Dhs35.5bn ($9.6bn), marking a 33 per cent year-over-year increase, while net profit before tax grew by 25 per cent to Dhs18.9bn ($5.1bn). The EBITDA (Earnings before Interest, Tax, Depreciation, and Amortisation) for the year stood at Dhs19.3bn ($5.2bn), with a margin of 54 per cent.
Ongoing projects
Emaar remains focused on delivering ongoing projects as scheduled while prioritising innovation, quality, and operational efficiencies.
The company’s investments in digital transformation, talent development, and sustainable growth initiatives will continue to support the company’s long-term strategy.
“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,” Mohamed Alabbar, Founder of Emaar Properties, said.
Looking ahead to 2025, Emaar will continue introducing new developments and lifestyle offerings, further cementing its presence in the real estate sector.
