Emaar Properties has announced it will distribute Dh8.8 billion ($2.4 billion) as dividends for 2024, marking a significant increase from the Dh4.4 billion (Â $1.2 billion) distributed in 2023.
For the first nine months of 2024, Emaar reported a 60% increase in property sales year-on-year, amounting to Dh50 billion ($13.6 billion), fueled by strong market momentum and new project launches.
The company’s total revenues rose 30% to Dh23.8 billion ($6.5 billion), and net profit before tax climbed 24% to Dh12.4 billion ($3.4 billion), driven by robust demand in Dubai’s real estate market and consistent project execution.
Mohamed Alabbar, Founder of Emaar Properties, commented:Â “At Emaar, our priority has always been to create exceptional value for our shareholders, and this year’s 100% dividend distribution is a clear reflection of that commitment. We’re thrilled to see our early investors realise returns that have multiplied four times.”
Emaar Development, a majority-owned subsidiary, launched 50 projects and achieved record property sales of Dh48 billion ($13.1 billion) in the first three quarters of 2024.
International operations saw property sales of Dh1.9 billion ($517 million) with revenues of Dh1.6 billion ($436 million). Meanwhile, the malls and commercial leasing segment generated Dh4.2 billion ($1.1 billion) in revenue, with occupancy rates over 99% in prime assets by September’s end. Emaar’s hospitality, leisure, and entertainment divisions reported a 7% revenue increase to Dh3.6 billion ($708 million).
Emaar Properties has completed approximately 117,000 residential units in Dubai and global markets since 2002.
