Emaar announces 100pc dividend payout of $2.4bn for 2024
DUBAI, 3 days ago
Dubai master-developer Emaar Properties today (March 26) approved a 100% dividend payout, amounting to AED8.8 billion ($2.4 billion), during its Annual General Meeting (AGM). This follows the introduction of Emaar’s updated dividend policy in December 2024.
The meeting also included the approval of the auditor’s report for 2024, along with the board’s report on the company’s activities and financial position.
Emaar’s financial results for 2024 reflected strong operational performance and continued growth across its key business segments.
The company recorded property sales of approximately AED70 billion ($19 billion), representing a 72% increase compared to 2023.
Emaar’s revenue backlog from property sales exceeded AED110 billion ($30 billion), supporting future revenue generation.
Total revenue for 2024 reached AED35.5 billion ($9.6 billion), marking a 33% year-over-year increase, while net profit before tax grew by 25% to AED18.9 billion ($5.1 billion). Ebitda for the year stood at AED19.3 billion ($5.2 billion), with a margin of 54%.
On the dividends approval, Mohamed Alabbar, Founder of Emaar Properties, said: "Emaar’s 2024 results reflect our dedication to operational excellence, innovation, and customer experience."
"As we move forward, we remain committed to sustainable and technology-driven growth, further enhancing Dubai’s position as a leading global destination for investment and development while aligning with the UAE’s Net Zero 2050 vision," he added.-TradeArabia News Service
