Latest news with #AED65.4
Trade Arabia
27-03-2025
- Business
- Trade Arabia
Emaar Development approves $740m dividend for 2024
Emaar Development, the UAE's premier property development company specialising in build-to-sell assets and majority-owned by Emaar Properties, has announced that its shareholders have approved the Board of Directors' proposal to distribute a dividend of AED2.7 billion ($740 million), representing 68% of the share capital. The announcement came during the Emaar Annual General Meeting, where the Board of Directors reviewed the company's financial performance for 2024 and discussed its future growth strategy. 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 AED65.4 billion ($17.8 billion) in 2024, reflecting a 75% increase compared to the previous year. Total revenue for the year amounted to AED19.1 billion ($5.2 billion), up 61% from 2023, while net profit before tax increased by 20% to AED10.2 billion ($2.8 billion). Mohamed Alabbar, Founder of Emaar, said: "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."
Hi Dubai
27-03-2025
- Business
- Hi Dubai
Emaar Development Approves AED2.7 Billion Dividend Amid Strong Financial Growth
Emaar Development shareholders have approved a dividend distribution of AED2.7 billion (US$740 million), representing 68% of the company's share capital. The decision was announced at the company's Annual General Meeting (AGM), where the Board of Directors reviewed Emaar's robust financial performance for 2024 and outlined its future growth strategy. The AGM also saw the approval of the Board's report on the company's operations, the financial position, and the Auditor's report. Emaar Development reported an exceptional surge in property sales, reaching AED65.4 billion (US$17.8 billion) in 2024, a 75% increase compared to the previous year. The company's total revenue climbed to AED19.1 billion (US$5.2 billion), marking a 61% year-on-year growth. Additionally, net profit before tax rose by 20% to AED10.2 billion (US$2.8 billion). Mohamed Alabbar, Founder of Emaar, attributed this success to the company's commitment to excellence, innovation, and customer satisfaction. He emphasized that Emaar's developments go beyond real estate, focusing on community-building and enhancing Dubai's global appeal. 'Our 2024 results are a testament to our vision. By embracing technology and sustainability, we are shaping modern living and ensuring long-term value for our customers and stakeholders,' Alabbar stated. Emaar Development's remarkable financial growth and strategic direction position it as a key driver of Dubai's real estate sector, reinforcing the city's status as a global investment hub. News Source: Emirates News Agency
Zawya
27-03-2025
- Business
- Zawya
Emaar Development approves $735mln dividend for 2024
DUBAI - Emaar Development shareholders approved the Board of Directors' proposal to distribute a dividend of AED2.7 billion (US$740 million), representing 68 percent of the share capital. The announcement came during the Emaar Annual General Meeting, where the Board of Directors reviewed the company's financial performance for 2024 and discussed its future growth strategy. 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 AED65.4 billion ($17.8 billion) in 2024, reflecting a 75 percent increase compared to the previous year. Total revenue for the year amounted to AED19.1 billion ($5.2 billion), up 61 percent from 2023, while net profit before tax increased by 20 percent to AED10.2 billion ($2.8 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 that by embracing technology and sustainability, Emaar aims to redefine modern living while ensuring lasting value for customers and stakeholders.
