Emaar Properties approves dividend payout of $2.4 billion

UAE property developer Emaar Properties’ shareholders approved a dividend payout of $2.4 billion, the company announced on Wednesday.

The company recorded property sales of approximately AED70 billion ($19 billion), marking a 72 percent increase compared to 2023.

The developer also has a global presence with developments in Turkey, India, Pakistan and Morocco among others.

Emaar’s revenue backlog from property sales exceeded AED110 billion, further supporting future revenue generation.

Total revenue for 2024 reached AED35.5 billion, marking a 33 percent annual increase, while net profit before tax grew by 25 percent to AED18.9 billion.

Emaar’s EBITDA for the year stood at AED19.3 billion, with a margin of 54 percent, according to data shared on the company website.

Pakistan being looked at ‘for future expansion,’ says top Emaar official in Dubai

“Emaar’s 2024 results reflect our dedication to operational excellence, innovation and customer experience,” Mohamed Alabbar, founder of Emaar Properties said in a statement.

“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 further stated.

Emaar is one of Dubai’s premier developers with the Burj Khalifa among its key properties. In 2023, it was designated the “most visited place on earth”.

The two largest shareholders are Dubai ruler Mohammed bin Rashid Al Maktoum and the UAE’s sovereign wealth fund Investment Corporation of Dubai.