Emaar H1 revenue grows to US $3.9bn
Emaar said its strategy to improve profit margins and optimise operational efficiencies resulted in the company achieving a 24% growth in Ebitda
Emaar Properties has delivered solid results for the first half of 2024, with a 17% jump in its total revenue, which grew to $3.9bn, and a net profit before tax of $2.1bn, up 33% over last year.
Announcing its financial results for H1, Emaar said its strategy to improve profit margins and optimise operational efficiencies resulted in the company achieving a 24% growth in Ebitda, which rose to $2.2bn in the first six months of 2024.
The Dubai developer outperformed its Q1 2024 group property sales in Q2, resulting in record group property sales across H1 of $8.6bn, a 56% growth compared to H1 2023. This improved performance was driven by sustained investors’ confidence and robust demand in Dubai’s real estate market, strong project execution capability, as well as continued growth in tourism and retail sales.
On the company’s solid performance, Founder Mohamed Alabbar said: “Emaar delivered remarkable results in the first half of the year, reflecting our commitment to long-term success and customer satisfaction. Our strategic investments in key locations and other major assets have yielded impressive returns.”
“With a clear vision and pragmatic approach, we maximise value for our stakeholders. We are confident in executing our business strategies and proud of our significant contribution to Dubai’s economic landscape and reinforcing its global leading position,” Alabbar concluded.
