By Staff Reporter
Dubai’s leading real estate developer, Emaar Properties, has approved a 100 percent dividend payout totaling AED8.8 billion ($2.4 billion) during its Annual General Meeting (AGM).
This decision follows the company’s updated dividend policy, introduced in December 2024, reinforcing its commitment to shareholder value.
Emaar’s 2024 financial results highlighted strong operational performance and robust growth across key business segments. The company reported property sales of AED70 billion ($19 billion), a 72 percent increase from 2023. Additionally, Emaar’s revenue backlog from property sales surpassed AED110 billion ($30 billion), securing long-term revenue generation.
The company’s total revenue for 2024 reached AED35.5 billion ($9.6 billion), marking a 33 percent year-over-year increase. Net profit before tax rose 25 percent to AED18.9 billion ($5.1 billion), while EBITDA stood at AED19.3 billion ($5.2 billion), with a 54 percent margin.
During the AGM, shareholders also approved the auditor’s report for 2024 and the board’s report on the company’s activities and financial position.
Commenting on the company’s success, Mohamed Alabbar, Founder of Emaar Properties, stated,
“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.”
Emaar’s impressive financial performance underscores its strong market position and commitment to sustainable development, reinforcing Dubai’s global reputation as a premier real estate and investment hub.
News Source: Emirates News Agency
