Dubai, a renowned global financial hub and tourist destination, has a real estate market that consistently attracts global attention. In this dynamic and competitive environment, Emaar Properties has played a significant role, and its latest performance figures have once again sparked widespread interest and discussion.
Emaar Properties reported exceptional achievements in 2023. The company's real estate sales totaled AED 40.3 billion, with AED 37.4 billion in sales in the domestic market alone. These figures not only reflect the company's strong position domestically but also highlight customer trust and recognition of the Emaar brand. This success is the result of the management team's continuous innovation and dedication to product quality.
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Remarkably, Emaar Properties achieved dual growth in revenue and net profit in 2023, with revenues reaching AED 26.7 billion and a net profit of AED 11.6 billion. Compared to the previous year, revenue grew by 7%, and net profit soared by an impressive 70%. This growth was primarily due to increases in tourism, continued rises in retail sales, and sustained demand in real estate. Additionally, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) also saw a 67% increase, reaching AED 17.3 billion. These figures clearly demonstrate Emaar's strong financial performance and operational capabilities.
To reward shareholders for their support and trust, the Emaar Properties board of directors decided to distribute a significant dividend at the annual general meeting. The dividend of 50 fils per share amounted to a total of AED 4.4 billion, equivalent to USD 1.2 billion. This move underscores the company's commitment to shareholder returns and proves its strong financial health and profitability. This will further boost investor confidence and promote the company's long-term sustainable growth.
Looking beyond past achievements, Emaar Properties' management team has also looked to the future. Founder Mohamed Alabbar expressed that based on the excellent performance in 2024, the company is confident and will continue to focus on enhancing operational levels, expanding investment returns, and improving customer satisfaction. Through strategic measures such as digital transformation, product innovation, and market penetration, Emaar Properties will further consolidate its leading position in Dubai’s real estate market, creating sustained value growth for long-term shareholders.
