Emaar, a leading global property developer, has announced a 33% increase in its net profit, driven by sustained domestic demand. The company’s revenue surged 17% to AED 14.4 billion in the first half of 2024, while its profit before tax climbed to AED 7.8 billion.
With a focus on community-centric projects, Emaar has consistently tapped into Dubai’s market, attracting new customers both domestically and internationally. Mohamed Alabbar, the company’s founder, stated, “Our strategic investments in prime locations and other key assets have yielded impressive returns.”
As of June, Emaar’s Dubai property sales bookings reached AED 90.1 billion, marking a 15% increase compared to March 2024 and a substantial 43% year-on-year growth. This indicates a sustainable profitability and a strong pipeline of revenue over the next 4-5 years.
Emaar is one of the world’s largest and most renowned construction companies, playing a pivotal role in the development of the United Arab Emirates, particularly in Dubai’s Property. With its iconic and mega projects, Emaar has transformed Dubai’s skyline and positioned it as a global tourist and investment destination.
In conclusion, Emaar has established itself as a global construction leader, setting new benchmarks in the industry with its ambitious and innovative projects.
Source: https://www.propertynews.ae
