Dubai: Emaar Properties announces a high dividend of Dh4.4 billion

Emaar Properties PJSC held its Annual General Meeting (AGM) in Dubai on April 22, 2024, where shareholders approved a significant dividend of 50 fils per share, totaling Dh4.4 billion ($1.2 billion). This reflects the company's strong profitability and commitment to shareholder returns, supported by its robust financial health. Shareholders also endorsed the auditor's report and the board's report on the company's activities and financial position for 2023.

 

During the AGM, the board highlighted Emaar's impressive performance in 2023, driven by strong group real estate sales totaling Dh40.3 billion ($11 billion), with Dh37.4 billion ($10.2 billion) in the domestic market. This reflects sustained customer trust in the Emaar brand and management's innovation and quality. Emaar achieved revenues of Dh26.7 billion ($7.3 billion) and net profit of Dh11.6 billion ($3.2 billion), marking growth of 7% and 70%, respectively, compared to the previous year. This growth was supported by increased tourism, rising retail sales, and consistent real estate demand. Emaar also saw a 67% growth in EBITDA, reaching Dh17.3 billion in 2023.

 

The company's strong performance continues into 2024, with year-to-date domestic property sales exceeding Dh19 billion, a more than 60% increase compared to the same period in the previous year.

 

Mohamed Alabbar, Emaar Properties' founder, expressed optimism about the company's future, emphasizing a focus on operational excellence, investment returns, and customer satisfaction. Emaar remains committed to launching innovative projects that contribute to Dubai's economy and create long-term shareholder value. Through strategic initiatives in digital transformation, product innovation, and market expansion, Emaar aims to drive robust growth and establish a solid foundation for future success.