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Emaar Development delivers Dh20.94b highest ever sales

November 15, 2021
real estate

Emaar’s sales backlog increased to Dh28.471 billion, to be recognised as revenue in the coming years

Emaar Development on Sunday said its nine-month net profit surged by 75 per cent to Dh2.384 billion while sales backlog increased to Dh28.471 billion.

In a statement, the Dubai-listed company said it delivered highest-ever property sales of Dh20.943 billion during the January-September 2021, reflecting five times higher compared to same period last year. The company’s nine-month revenue surged 63 per cent to Dh11.604 billion.

“The strong performance of Emaar Development underlines the strength of Dubai’s property sector, driven by the robust economic fundamentals of the UAE. Through the development of our exceptional lifestyle destinations, we are able to offer world-class residential choices, which stand out for their design, build quality and amenities, to our customers,” an Emaar spokesperson said.

During the first nine months of 2021, Emaar Development successfully launched Golf Place Terraces, Palm Hills with Elie Saab and Majestic Vistas inspired by Automobili Lamborghini in Dubai Hills Estate, Palace Beach Residence and Beach Mansion in Emaar Beachfront, Caya and Bliss in Arabian Ranches III, and Nara in The Valley.

“These developments also serve as dynamic hubs, with outstanding amenities, including diverse retail and hospitality options, which energise the economy and create new jobs and business opportunities. Our successful strategy unlocks the true potential of our property development business, with the aim of delivering long-term value for our shareholders, as we continue to focus on consistently strengthening our core competencies,” Emaar spokesperson said.

Emaar Development has delivered over 3,700 residential units during the first nine months of 2021 across prime locations, including Dubai Hills Estate, Dubai Creek Harbour, Downtown Dubai, Dubai Marina and Emaar South. As of September 2021, Emaar has delivered more than 51,000 residential units, with over 25,000 residences currently under development in the UAE.

khaleejtimes

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