Profits up, dividends flow: Emaar’s 2024 success story

Emaar Development shareholders have approved the distribution of AED2.7 billion (US$740 million) in dividends, representing 68% of the company’s share capital, following a record-breaking year in 2024.

The announcement was made during Emaar’s Annual General Meeting (AGM), where the Board of Directors reviewed the company’s financial results and outlined future growth strategies. The shareholders also approved the Board’s activity report, financial statements, and the Auditor’s report for the fiscal year.

Emaar Development posted impressive gains in 2024:

• Property sales reached AED65.4 billion (US$17.8 billion), marking a 75% increase from 2023.
• Total revenue climbed 61% year-over-year to AED19.1 billion (US$5.2 billion).
• Net profit before tax rose to AED10.2 billion (US$2.8 billion), reflecting a 20% growth.

These figures underscore the company’s resilient performance in a competitive real estate market, buoyed by strong demand and successful project launches across Dubai and beyond.

A Vision for Innovation and Community Building

Commenting on the results, Mohamed Alabbar, Founder of Emaar, stated:

“Our 2024 results are a testament to our focus on excellence, innovation, and customer satisfaction. Every project we launch is about more than just real estate—it’s about building communities that enhance the lives of residents and contribute to Dubai’s global appeal.”

Alabbar emphasized Emaar’s commitment to leveraging technology and sustainability to reshape modern living, while delivering enduring value for both customers and stakeholders.

With a robust financial base and a clear strategic vision, Emaar Development is poised to continue its upward trajectory, contributing to Dubai’s positioning as a global real estate and lifestyle destination.

The approved dividend reflects the company’s strong performance, financial stability, and shareholder-focused approach, reinforcing investor confidence in the brand’s future.