Emaar Development Celebrates a Successful 2023 at its Annual General Meeting | Tourismag.com
Accueil / Home / NEWS /
 

On April 23, 2024, Emaar Development PJSC (DFM: EMAARDEV) held its Annual General Meeting (AGM), showcasing a strong financial performance for the year 2023.

During the meeting, shareholders approved a generous dividend distribution of AED 2.082 billion (US$ 567 million), equivalent to 52% of the share capital (approximately AED 52 fils per share). This decision underscores Emaar’s dedication to enhancing shareholder returns. Approval was also granted for the Board’s report on the company's activities and financial position, along with the Auditor’s report.

The company proudly reported property sales reaching AED 37.4 billion (US$ 10.2 billion), marking a 22% increase from the previous year. This surge has contributed to a robust sales backlog of AED 57.1 billion (US$ 15.5 billion), poised to generate substantial revenue in future years. The reported revenue for 2023 was AED 11.9 billion (US$ 3.2 billion) with a net profit of AED 6.6 billion (US$ 1.8 billion), reflecting a 74% growth from 2022.

In 2023, Emaar Development delivered over 12,000 residential units across key developments such as Dubai Hills Estate, Dubai Creek Harbour, Downtown Dubai, Emaar Beachfront, Arabian Ranches, and Emaar South. To date, the company has delivered over 70,000 residential units in the UAE, with more than 25,500 residences currently under development.

Mohamed Alabbar, Founder of Emaar Properties, commented on the year’s achievements:

"Emaar Development's record-breaking success in 2023 demonstrated our superior operational approach and strong demand for our premier offerings, allowing us to optimise performance and improve risk management. In 2024, we will capitalise on a dynamic lineup of property launches and ambitious new projects.”

He added,

Our consistent year-over-year growth and increasing profitability are directly attributed to the unwavering support of our shareholders, astute management, and highly skilled workforce. Furthermore, our dedication to providing exceptional shareholder value and our critical role in driving Dubai's economic vitality highlight our esteemed brand's foundation of trust and quality."

Donia Hamouda
Donia Hamouda
Administrator

CEO of Tourismag.com -
Donia's passion for the tourism sector and robust entrepreneurial drive have propelled her to establish herself as an esteemed expert in Digital Destination marketing. She has achieved this by developing and overseeing digital solutions that consistently challenge the limits of innovation in Destination marketing.

PRECEDENT
← Shahla Kekhia Partage Ses Défis lors de...
SUIVANT
Festival de Cannes : Une édition 2024 →
Lire aussi

Image
4 min

ATM 2024 Launches in Dubai: A Convergence of Innovation and Entrepreneurship in Global Tourism

Arabian Travel Market 2024 kicks off today in Dubai, showcasing over 2,300 exhibitors and a compelling theme of 'Empowering Innovation: Transforming Travel Through Entrepreneurship'. This premier event is set to explore the dynamic interplay between tourism and entrepreneurial innovation, highlighting new destinations and emerging trends in the industry.

La suite
Image
mardi 14 mai 2024 3 min

Introducing Italian Elegance in Dubai: Gulf Land and Tonino Lamborghini Launch Luxury Residences

Tonino Lamborghini and Gulf Land Property Developers Announce a Landmark Collaboration to Create an Iconic Italian-Styled Luxury Residential Community in the Heart of Dubai

La suite
Image
vendredi 17 mai 2024 4 min

Emaar Properties Reports Stellar Growth in Q1 2024: Record Property Sales and Operational Milestones

Emaar Properties announces robust First Quarter 2024 Financial Results, Highlighting Record Property Sales and Sustained Growth Across Tourism, Retail, and Real Estate Sectors in Dubai

La suite
Image
lundi 20 mai 2024 3 min

Dubai Mall Elevates Luxury Shopping with Exclusive Elite Personal Shopping Suite

Dubai Mall, under the management of Emaar Malls, unveils its most sophisticated initiative yet—the Elite Personal Shopping Suite.

La suite
Image
mercredi 22 mai 2024 3 min

Almal Real Estate Development Launches Flagship Project: The Unexpected Al Marjan Island Hotel & Residences in Ras Al Khaimah

Almal Real Estate Development, a leading luxury developer based in Dubai, has officially unveiled its landmark hotel and residence project on Al Marjan Island, Ras Al Khaimah. Named "The Unexpected Al Marjan Island Hotel & Residences," this groundbreaking development was launched during an event at the Mandarin Oriental on May 16th, attended by a prestigious group of investors, partners, and stakeholders.

La suite
Image
lundi 03 juin 2024 1 min

Emaar Unveils AED 1.5B Dubai Mall Expansion

Emaar Unveils AED 1.5 Billion Expansion for Dubai Mall, Adding 240 Luxury Retail and Dining Outlets to Enhance Visitor Experience Following 105 Million Visits in 2023

La suite