Emaar Development, a UAE property development company focused on build-to-sell assets and majority-owned by Emaar Properties, recorded a 66% increase in property sales, reaching Dh48 billion ($13.1 billion) in the first nine months of 2024, compared to Dh28.9 billion ($7.9 billion) in the same period in 2023.
In the first nine months of 2024, the company launched 50 projects across its masterplans.
For the same period, Emaar Development reported revenue of Dh12.5 billion ($3.4 billion) and EBITDA of Dh6 billion ($1.6 billion), representing increases of 69% and 35%, respectively, from the prior year.
With continued growth in sales, Emaar’s sales backlog stands at Dh83.7 billion ($22.8 billion), a 47% increase from December 2023.
“Our performance this quarter reflects the confidence and trust that our customers place in Emaar’s vision,” said Mohamed Alabbar, founder of Emaar. “Our strategy is centred on adding sustainable value for both our customers and shareholders, driving growth that aligns with Dubai’s ambitions.”
