Sector: Real Estate/Construction
Country: UAE
Emaar Properties, the UAE’s leading master developer, recorded its strongest financial results to date in 2024 reinforcing its standing as one of the region’s most valuable and influential real estate brands. Founded in 1997 and listed on the Dubai Financial Market, Emaar has long played a pivotal role in shaping the modern Dubai skyline and lifestyle.
In 2024, the company posted annual revenue of Dhs35.5bn ($9.6bn), up 33 per cent year-on-year. Net profit attributable to shareholders climbed 16 per cent to Dhs13.5bn ($3.7bn), reflecting robust demand across residential, hospitality, and commercial divisions. The company also proposed a record Dhs2.7bn ($740m) dividend, up 31 per cent on the previous year. Emaar’s property sales surged to an all-time high of Dhs70bn ($19.1bn), a 72 per cent increase from 2023.
During the year, the group launched 62 new projects across popular master- planned communities including Dubai Hills Estate, Emaar Beachfront, Arabian Ranches, and Dubai Creek Harbour. These sales contributed to a strong backlog of Dhs90.9bn ($24.7bn), offering the company high revenue visibility moving forward. Beyond residential sales, Emaar’s portfolio includes some of Dubai’s most iconic assets — including Burj Khalifa, The Dubai Mall, Dubai Opera, and the Address Hotels + Resorts brand.
The group also maintains a presence across Egypt, Saudi Arabia, India, Pakistan, and Turkey, with a growing international pipeline of projects. In hospitality, Emaar continued to expand its hotel and serviced residence portfolio, targeting high-end travellers with strong brand equity and quality experiences.
The company’s retail business, anchored by The Dubai Mall, saw robust performance in footfall and leasing, driven by tourism and economic growth. Looking ahead, Emaar is doubling down on digital transformation, sustainable development, and strategic landbank utilisation to drive future growth. With investor confidence at a high, and Dubai’s real estate momentum showing no signs of slowing, Emaar is well-positioned to remain the region’s most admired and financially successful developer.
