Dubai-based Emaar Properties PJSC reported an H1 2024 net profit attributable to shareholders of 5.34 billion dirhams ($1.45 billion), marking an 8% year-on-year (YoY) increase. This rise is attributed to a surge in retail sales and heightened demand for real estate in Dubai.
The company’s revenue for the first half of 2024 reached AED 14.4 billion, reflecting a 17% increase compared to the same period last year, according to a disclosure on the Dubai Financial Market (DFM) on Thursday.
Emaar’s property sales backlog reached AED 90.1 billion as of the end of June 2024, positioning the company for further revenue growth in the future.
View this post on Instagram
Emaar Development
Emaar Development PJSC, a subsidiary of Emaar Properties that focuses on build-to-sell properties, also reported significant financial gains. The company achieved a net profit of AED 2.50 billion, a 15% increase compared to the same period in 2023.
Emaar Development’s sales backlog has risen to AED 74.2 billion, representing future revenue from property sales that will be recognized over the next 4-5 years, the company added.
