Emaar Development approves $740m dividend for 2024
DUBAI, 3 days ago
Emaar Development, the UAE's premier property development company specialising in build-to-sell assets and majority-owned by Emaar Properties, has announced that its shareholders have approved the Board of Directors’ proposal to distribute a dividend of AED2.7 billion ($740 million), representing 68% of the share capital.
The announcement came during the Emaar Annual General Meeting, where the Board of Directors reviewed the company’s financial performance for 2024 and discussed its future growth strategy.
The Board’s report on the company’s activities and financial position, as well as the Auditor’s report, were also approved.
Emaar Development reported property sales of AED65.4 billion ($17.8 billion) in 2024, reflecting a 75% increase compared to the previous year.
Total revenue for the year amounted to AED19.1 billion ($5.2 billion), up 61% from 2023, while net profit before tax increased by 20% to AED10.2 billion ($2.8 billion).
Mohamed Alabbar, Founder of Emaar, said: "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."
By embracing technology and sustainability, Emaar aims to redefine modern living while ensuring lasting value for customers and stakeholders, he added.-TradeArabia News Service
