Emaar Properties in record dividend distribution for 2024
Totalling AED8.8 billion
Emaar Properties will distribute 100% of its share capital as dividends in 2024, totalling AED8.8 billion ($2.4 billion). This is a 100% increase from the AED4.4 billion ($1.2 billion) in dividends in 2023.
The dividend distribution will raise the total value of initial investments fourfold from their initial value, underscoring the company’s ability to generate substantial returns.
Emaar’s results in 2024 reflect a history of success driven by strong property sales, innovative developments, and customer confidence. Thanks to Dubai emirate’s economic policies, the company contributes significantly to Dubai’s real estate sector and the broader economy.
Mohamed Alabbar, Founder of Emaar Properties, said: “Our priority has always been to create exceptional value for our shareholders, and this year’s dividend distribution reflects that commitment.”
Emaar’s long-term strategy focuses on increasing shareholder value, embracing digital transformation and sustainability, and investing in its workforce to maintain its industry leadership.
Emaar Properties earlier reported robust financial results for the first nine months of 2024, showcasing notable growth across its business divisions. The company achieved total revenues of AED23.8 billion ($6.5 billion) and a net profit before tax of AED12.4 billion ($3.4 billion), reflecting a 30% and 24% increase, respectively, compared to the previous year.
The strong performance was driven by high demand in Dubai’s real estate market, the company’s efficient project execution, and sustained investor confidence. Additionally, growth in Dubai’s tourism and retail sectors further supported Emaar’s success. The company’s focus on improving profit margins and operational efficiency led to a 17% increase in EBITDA, which reached AED12.6 billion ($3.4 billion).
Emaar’s property sales surged to AED50 billion ($13.6 billion) in the first nine months of 2024, a 60% increase year over year. As a result, the company’s revenue backlog from property sales surpassed AED100 billion ($27.2 billion), a 45% rise from September 2023 and a 12% increase from June 2024. This backlog will generate consistent revenue over the next four to five years, ensuring sustained profitability.
Hero image: Emaar’s results in 2024 reflect a history of success driven by strong property sales, innovative developments, and customer confidence. Credit: Emaar Properties
