Emaar Development PJSC (DFM: EMAARDEV) concluded its Annual General Meeting (AGM) on March 26, 2025, where the Board of Directors reviewed the company’s strong financial performance for 2024 and outlined its future growth trajectory. The Dubai-based developer reported significant increases across key metrics, underscoring a dynamic year for the company.
Property sales for 2024 reached AED 65.4 billion (US$ 17.8 billion), marking a substantial 75% increase compared to the previous year. This robust sales activity contributed to a total revenue of AED 19.1 billion (US$ 5.2 billion) for the year, up 61% from 2023. Net profit before tax also saw a healthy rise of 20%, totaling AED 10.2 billion (US$ 2.8 billion).
Shareholders at the AGM approved the Board of Directors’ proposal to distribute a dividend of AED 2.7 billion (US$ 740 million), representing 68% of the share capital. The Board’s report on the company’s activities and financial position, along with the Auditor’s report, received unanimous approval.
Operationally, Emaar Development maintained a high level of activity throughout 2024, launching 62 projects across its various master plans in Dubai. These launches further strengthened the company’s market presence and commitment to developing high-quality communities. The developer also expanded its land bank significantly, acquiring 141 million square feet of prime development land with a total development value estimated at AED 96 billion.
The company’s revenue backlog currently stands at over AED 90.9 billion (US$ 24.7 billion), providing a strong foundation for future revenue growth. Since 2002, Emaar Development has delivered more than 74,000 residential units. It currently has over 42,000 residential units under development, affirming its robust pipeline and sustained contribution to Dubai’s real estate landscape. The company is known for iconic freehold master-planned communities in Dubai, including Emirates Living, Downtown Dubai, Dubai Marina, Arabian Ranches, Dubai Creek Harbour, Dubai Hills Estate, Emaar South, Rashid Yachts & Marina, The Valley, and The Oasis.
Mohamed Alabbar, Founder of Emaar, commented: “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.”
