Data disclosed by Emaar Properties revealed a real estate sales turnover of 69.5 billion dirhams and a net profit of 8.24 billion dirhams during the same period, representing a significant 42% increase from the previous year. This growth is attributed primarily to the uptick in retail sales and the rising demand for real estate.
Simultaneously, as the builder of the Burj Khalifa, Emaar Group's real estate sales reached 31.1 billion dirhams, marking a 16% year-on-year increase.
Furthermore, as of September 30, 2023, the company's backlog of real estate sales revenue had already reached 69.5 billion dirhams, indicating a strong outlook for income recognition in the coming years.
Emaar's founder, Mohamed Alabbar, attributed this achievement to the continued prosperity of the tourism industry, the launch of new attractions such as Chinatown in Dubai's shopping centers, and the positive development in real estate sales. He also emphasized the company's commitment to both loyal and new customers.
These data reflect Emaar's outstanding performance in the Dubai market, underscoring the company's confidence in the future. Dubai has long been a globally renowned commercial and tourist center, and Emaar, as one of the region's most influential real estate developers, holds significant importance for the market and investors.
This series of positive data not only demonstrates the company's keen insight into market changes but also establishes a solid foundation for its future development. With the efforts of Emaar's leadership and team, it is believed that the company will continue to achieve even more brilliant results in the future, making a positive contribution to Dubai's and the entire region's economic prosperity.