Emaar Properties has achieved a qualitative leap in its profits.
Emaar Properties has achieved Strong jump in profits during the first halfof the year, recording net profits of AED 7.8 billion, an increase of 33% compared to the same period of last year, Backed by revenues of AED 14.4 billion.
Emaar has achieved a qualitative leap in its profits, recording a 24% growth before interest, taxes, depreciation and amortization, with profits reaching 8 billion dirhams in the first half.
Emaar Properties’ sales achieved rapid growth during the first half of the year, with second-quarter sales significantly exceeding first-quarter sales, bringing total sales to a record level of AED 31.5 billion, an increase of 56% over last year.
Strong momentum in property sales pushed Emaar’s revenues to new heights, with backlog of projects under development rising 43% to AED 90.1 billion by the end of June.
The accumulated real estate sales, which amounted to AED 90.1 billion, represent a package of future revenues that will support the company’s growth over the next four to five years, ensuring the sustainability of its profits and contributing to strengthening its position in the market.
