Emaar Properties Shatters Sales Records in 2024
Emaar Properties PJSC has announced a record-breaking year in 2024, achieving unprecedented sales, revenue, and profit figures.
Summary
Emaar Properties PJSC reported its highest ever sales, revenue, and profit in 2024, marking a significant milestone for the company. With a 72% increase in property sales and a 33% rise in revenue, the company continues to show strong growth potential.
Emaar Properties PJSC, a leading real estate developer based in the United Arab Emirates, has announced a landmark year in 2024, setting new records in sales, revenue, and profit. This remarkable achievement underscores Emaar's strategic prowess and its commitment to excellence in property development.
In 2024, Emaar recorded an impressive 72% increase in property sales, amounting to approximately AED 70 billion (US$ 19 billion). This surge in sales was complemented by a 55% increase in the company's revenue backlog, which now stands at AED 110 billion (US$ 30 billion). Such figures not only highlight Emaar's robust growth trajectory but also signal a promising future for the company.
The company's revenue for 2024 reached an all-time high of AED 35.5 billion (US$ 9.6 billion), marking a 33% increase from the previous year. This substantial growth in revenue is a testament to Emaar's operational efficiency and its ability to adapt to changing market dynamics.
Profitability also saw a significant boost, with net profit before tax increasing by 25% to AED 18.9 billion (US$ 5.1 billion). This impressive financial performance has allowed Emaar to propose its highest ever dividend, amounting to 100% of share capital for 2024, which is double the amount from 2023.
Emaar's strategic expansion efforts in 2024 included the acquisition of 141 million square feet of development land in a prime area of Dubai, with a total development value of AED 96 billion. This move is expected to further enhance the company's growth prospects and strengthen its market position.
Moreover, Emaar's commitment to customer satisfaction was evident as the company repaired all homes affected by unprecedented rain at its own cost. This focus on customer needs and service quality has undoubtedly contributed to the company's success.
Looking ahead, Emaar's investment in young talent development and its focus on innovation and customer-centric strategies position the company well for continued growth. Given its strong financial performance and strategic initiatives, Emaar Properties appears to be a compelling investment opportunity.
In conclusion, with its record-breaking performance in 2024 and promising future prospects, Emaar Properties is a stock worth considering. Investors might find it prudent to buy shares in Emaar as the company continues to demonstrate its capability to deliver exceptional results and create value for its shareholders.
Source
Summary
In 2024, Emaar Properties PJSC achieved record-breaking financial results, with a 72% increase in property sales amounting to approximately AED 70 billion (US$ 19 billion) and a revenue backlog exceeding AED 110 billion (US$ 30 billion). The company's revenue grew by 33% to AED 35.5 billion (US$ 9.6 billion), and its EBITDA reached AED 19.3 billion (US$ 5.2 billion), with a margin of 54%. Net profit before tax rose by 25% to AED 18.9 billion (US$ 5.1 billion). Emaar also announced a new dividend policy and its highest proposed dividend of AED 8.8 billion, doubling from the previous year. The company expanded its business by acquiring 141 million square feet of development land in Dubai, valued at AED 96 billion. Emaar focused on customer satisfaction by repairing homes affected by unprecedented rain at its own expense and prioritized investing in young talent development in the UAE.
