Emaar Properties announced a 209% increase in property sales to AED33.762 billion (US$ 9.192 billion) in 2020 compared to AED10.902 billion (US$ 2.968 billion) in 2020, demonstrating continued investor confidence in the Emaar brand. This is Emaar’s highest-ever property sales total since its inception in 1997.
“Emaar’s 2021 revenue stood at AED 28.270 billion (US$ 7.697 billion), a 57 percent increase over 2020, highlighting the robust performance of its real estate business as well as strong performance of recurring revenues from its shopping malls, retail, and hospitality businesses.”
Emaar Properties founder Mohamed Alabbar stated: “Emaar’s portfolio of prime, highly sustainable assets is expected to benefit further from fundamental shifts in the real estate market as well as the company’s portfolio optimisation strategy. Emaar has a sizable development pipeline and landbank, which, when combined with its high-quality loyal customer base and expanding talented and dedicated team, positions Emaar well to execute on its clearly defined strategy and successfully deliver attractive, long-term returns for all stakeholders. Dubai’s property market, as one of the most dynamic and growing in the world, is a testament to the UAE’s strength and resilience as a nation, and Emaar is proud to lead the way forward.”
Since 2002, Emaar has delivered over 81,600 residential units in Dubai and international markets, demonstrating strong project execution capabilities. Currently, over 24,500 units are under construction in the UAE, with a further 10,700 units planned for global markets.
source: wam
