Dubai Property Boom Drives Emaar’s Net Profit Up by 33% to Dh7.8 Billion

Emaar Group has reported a remarkable 33% increase in net profit, reaching Dh7.8 billion before taxes in the first half of 2024. The booming property market in Dubai, driven by sustained demand, has played a significant role in this growth. Emaar has capitalized on this demand through strategic investments and community-themed projects, consistently attracting new customers from both the UAE and abroad.

Impressive Revenue Growth

Emaar’s revenue in H1-2024 climbed by 17% to Dh14.4 billion. The company’s focus on key locations and valuable assets has delivered strong returns. This approach continues to attract a growing customer base both locally and internationally.

Strategic Investments Pay Off

Founder Mohammed Alabbar credits Emaar’s success to its strategic investments. By choosing prime locations and valuable assets, the company has driven immediate returns and set the stage for future growth. These decisions have positioned Emaar to maintain profitability in the years ahead.

Strong Sales Backlog

By June 2024, Emaar’s property sales backlog reached Dh90.1 billion. This represents a 15% increase from March 2024 and a 43% rise from the previous year. This substantial backlog signals a steady stream of future revenue, which Emaar will recognize over the next 4-5 years.

Looking Ahead

Emaar remains focused on innovation and strategic growth in the Dubai property market. With a robust sales backlog and consistent demand, the company is well-positioned to continue its upward trajectory. The enduring appeal of Emaar’s developments in the region highlights the strength of its strategy.

Emaar Net Profit