Press releases, Reports & Disclosures for EMAAR DEVELOPMENT PJSC

Emaar Development reported a 25% increase in property sales, reaching AED 28.9 billion (US$ 7.9 billion), and a 43% increase in net profit to AED 4.1 billion (US$ 1.1 billion) for the first nine months of 2023. The company introduced Palmiera at The Oasis, a new luxury lifestyle landmark in Dubai. Emaar Development's sales backlog increased to AED 59.6 billion (US$ 16.2 billion), which will be recognised as future revenue. The company's successful performance is attributed to the launch of 20 new projects. Emaar Development delivered over 7,800 residential units in prime locations in the first nine months of 2023 and has over 27,000 residences currently under development in the UAE.