Today's Edition
DUBAI (WAM)
Emaar Properties on Wednesday approved a 100 per cent dividend payout, amounting to Dh8.8 billion, during its Annual General Meeting (AGM). This follows the introduction of Emaar’s updated dividend policy in December 2024.
The meeting also included the approval of the auditor’s report for 2024, along with the board’s report on the company’s activities and financial position.
Emaar’s financial results for 2024 reflected strong operational performance and continued growth across its key business segments. The company recorded property sales of approximately Dh70 billion ($19 billion), representing a 72 per cent increase compared to 2023.
Emaar’s revenue backlog from property sales exceeded Dh110 billion ($30 billion), supporting future revenue generation.
Total revenue for 2024 reached Dh35.5 billion ($9.6 billion), marking a 33 per cent year-over-year increase, while net profit before tax grew by 25 per cent to Dh18.9 billion ($5.1 billion). EBITDA for the year stood at Dh19.3 billion ($5.2 billion), with a margin of 54 per cent.
Mohamed Alabbar, Founder of Emaar Properties, said, “Emaar’s 2024 results reflect our dedication to operational excellence, innovation, and customer experience. As we move forward, we remain committed to sustainable and technology-driven growth, further enhancing Dubai’s position as a leading global destination for investment and development while aligning with the UAE’s Net Zero 2050 vision.”
