Emaar Real Estate Reports Record-Breaking Performance in 2024
Emaar Real Estate, a prominent entity listed on the Dubai Financial Market, has achieved unprecedented results in 2024. This success stems from the company’s unwavering commitment to overcoming conventional barriers, a strategy that has propelled its operational efficiency and fostered innovation and excellence in construction.
According to a recent announcement on the Dubai Financial Market, Emaar’s net profits reached a remarkable 13.5 billion dirhams for the year 2024, representing a robust growth of 16% compared to 11.63 billion dirhams in the previous year.
In terms of pre-tax earnings, Emaar also reported its highest net profit ever, amounting to 18.9 billion dirhams. This figure marks a significant increase of 25% from 2023.
The company achieved record-breaking real estate sales in 2024, totaling approximately 70 billion dirhams (equivalent to 19 billion dollars). This reflects an impressive growth of 72% compared to the 40.3 billion dirhams (11 billion dollars) recorded in 2023.
Emaar’s accumulated sales from ongoing projects surged as well, benefiting from a strong real estate sales performance throughout 2024. The total revenues from these projects exceeded 110 billion dirhams (30 billion dollars) as of December 31, 2024, marking a 55% increase when compared to the prior year, positioning the company for robust revenue growth in the years ahead.
Revenue for 2024 reached an all-time high of 35.5 billion dirhams (9.6 billion dollars), representing a 33% increase year-over-year. The pre-tax profits likewise reached a record high of 18.9 billion dirhams (5.1 billion dollars), reflecting a 25% improvement from 2023.
Emaar has reaffirmed its profit distribution policy, proposing a distribution of 100% of capital for 2024, translating to 8.8 billion dirhams, which is also a 100% increase compared to the previous year’s distribution.
“Our success is rooted in the trust our customers place in us and our dedication to exceeding expectations in design, quality of delivery, maintenance of our complexes, and customer service,” stated company representatives. They further highlighted how Emaar’s advancements are in line with the proactive economic strategies of the Emirate of Dubai, which aims to solidify its status as a global hub for innovation and investment.
Looking ahead, Emaar anticipates continued positive performance across its shopping centers, hotels, and real estate sales throughout 2025. The company remains committed to launching innovative projects and delivering exceptional products across its various business sectors.
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