Emaar Development approves Dh2.7 billion dividend for 2024
Emaar Development on Thursday announced that its shareholders have approved the board of directors' proposal to distribute a dividend of Dh2.7 billion ($740 million), representing 68 per cent of the share capital.
During the company's annual general meetings, shareholders approved 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 Dh65.4 billion in 2024, reflecting a 75 per cent increase compared to the previous year. The company's revenue backlog reached Dh90.9 billion, supporting future revenue growth. Total revenue for the year amounted to Dh19.1 billion, up 61 per cent from 2023, while net profit before tax increased by 20 per cent to Dh10.2 billion.
Throughout 2024, Emaar Development launched 62 projects across its master plans, further strengthening its presence in the market and reinforcing its commitment to shaping high-quality communities. The company also acquired 141 million square feet of prime development land, with a total development value of Dh96 billion.
Mohamed Alabbar, founder of Emaar, commented: '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.'
He added: 'By embracing technology and sustainability, we aim to redefine modern living while ensuring lasting value for our customers and stakeholders. Looking ahead to 2025, we will further strengthen our commitment to introducing new developments that align with our vision for sustainable urban growth, while supporting economic growth and nurturing the next generation of talent.'
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