Latest news with #Dh53.4
Al Etihad
08-05-2025
- Business
- Al Etihad
Emirates Group achieves record profit of Dh22.7 billion
DUBAI (WAM) Emirates Group has achieved record levels in net profit, revenue, earnings before interest, taxes, depreciation, and amortisation (EBITDA), and cash balances for the financial year 2024-2025. This exceptional performance reflects Emirates Group's status as the most profitable aviation group globally during the reporting period of 2024-2025, achieving the best financial results in its history, making it the world's most profitable airline. Both Emirates Airline and dnata reported record revenues in 2024-2025, as the Group continued expanding its operations worldwide to meet strong and growing customer demand for its high-quality products and services. At the end of the financial year on March 31, 2025, Emirates Group recorded a record profit before tax of Dh22.7 billion ($6.2 billion), an 18 percent increase compared to the previous financial year, and record revenue of Dh145.4 billion ($39.6 billion), an increase of 6 percent compared to the previous financial year. The Group reported a record cash balance of Dh53.4 billion ($14.6 billion), up 13 percent from the previous year, and achieved the highest-ever EBITDA of Dh42.2 billion ($11.5 billion), a 6 percent increase over the previous financial year, reflecting strong operating performance. The Group announced a dividend of Dh6.0 billion ($1.6 billion) to its owners, the Investment Corporation of Dubai. This financial year marks the first application of corporate income tax in the UAE, which was introduced in 2023 and applied to the Emirates Group. After accounting for the 9 percent tax rate, the Group's net profit after tax reached Dh20.5 billion ($5.6 billion). Emirates Airline solidified its position as the world's most profitable airline, recording a record profit before tax of Dh21.2 billion ($5.8 billion), a 20 percent increase compared to the previous financial year. The airline also achieved record revenue of Dh127.9 billion ($34.9 billion), an increase of 6 percent over the previous financial year. Its cash balance reached a record Dh49.7 billion ($13.5 billion), a 16 percent increase compared to the previous financial year. dnata also reported record profit before tax of Dh1.6 billion ($430 million), an increase of 2 percent compared to the last financial year. dnata's revenue reached a record Dh21.1 billion ($5.8 billion), an increase of 10 percent from the previous year. His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, said, 'Emirates Group is proud to continue playing its vital role in supporting Dubai's vision and enhancing its status as a global hub for trade and travel, guided by the ambitious vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, with ongoing support from H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, and H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance." H.H. Sheikh Ahmed bin Saeed added that the emergence of successful global aviation entities from Dubai, such as Emirates Airline and dnata, was not a coincidence, but rather the result of a forward-looking vision, systematic planning, and integrated institutional support, making Dubai's aviation sector a global force thanks to the wise leadership's vision and the coordinated efforts of Dubai's institutions and their partners at local and international levels. H.H. explained that when the Government of Dubai established Emirates Airline 40 years ago and began developing dnata's capabilities to support the city's growth plans, the mission was clear: to be the best at what they do, delivering real value to Dubai, its shareholders, and the communities they serve. H.H. said, 'With this in mind, we have remained committed to a business model based on operational excellence, continuous investment in technology and human capital, and providing products and services that deliver real value to customers and markets we serve. These principles, along with Dubai's supportive environment, have provided a strong foundation for Emirates Group, enabling it to maintain its competitiveness and resilience in the face of various geopolitical and economic challenges over the past decades. We do not pursue short-term gains at the expense of business sustainability but continue building with a calculated approach to ensure long-term impact, reflecting our responsibility towards our employees, partners, and the communities we operate in.' H.H. added that the strong performance achieved by the Group this year reflects a clear commitment to a defined path, driven by the efficiency of its teams, which formed the basis for another exceptional year of record results, the trust of its customers and partners, and its continuous investment in a sustainable and innovative business model. The Group will continue to build on these achievements to support Dubai's and the UAE's strategic goals. H.H. Sheikh Ahmed bin Saeed stressed that the Emirates Group achieved new record results in the financial year 2024-2025 in terms of profit, revenue, and cash balances, reflecting the efficiency and resilience of its operating model in responding to market changes. Emirates Airline and dnata successfully met the growing demand for air transport services across various markets, supported by continuous investments in human capital, enhanced partnerships, and the development of products and services that meet customer expectations, consolidating their leadership in the industry.
Khaleej Times
20-04-2025
- Business
- Khaleej Times
Villa market outshines as Dubai realty posts big Q1 sales surge
Dubai's real estate market kicked off 2025 with remarkable vigour, driven by a 65 per cent surge in villa sales transactions and a 56 per cent increase in their value, according to a report by Betterhomes. The first quarter saw the emirate's property sector maintain the robust momentum from 2024, with total sales transactions rising 23 per cent year-on-year to 42,422, and sales value climbing 29 per cent to Dh114 billion, as per Dubai Land Department (DLD) data. While apartments continued to dominate by volume, villas stole the spotlight. Transactions for villas jumped to 10,185, with their total value reaching Dh53.4 billion, reflecting strong demand despite limited supply. Apartments, meanwhile, saw a steady 14 per cent rise in transactions to 32,237, with their value increasing 12 per cent to Dh60.8 billion. Off-plan sales remained a key driver, accounting for 59 per cent of all transactions, with 24,942 deals marking a 25 per cent year-on-year increase. Louis Harding, CEO of Betterhomes, noted a significant shift in buyer preferences. 'While off-plan sales continue to lead, prime off-plan transactions dropped by 30 per cent, whereas secondary prime sales soared by 77 per cent. This indicates a growing appetite for completed, ready-to-occupy luxury properties,' he said. The trend underscores Dubai's maturing market, with buyers increasingly favoring high-quality, move-in-ready homes. Quarter-on-quarter, the market experienced a seasonal cool-down following a record-breaking Q4 2024, with transaction volumes dipping 10 per cent and values falling three per cent. However, specific segments bucked this trend. Villa sales rose 12 per cent, prime transactions increased 21 per cent, and Betterhomes reported a 51 per cent surge in sales leads, signaling robust buyer interest and pent-up demand. Christopher Cina, director of sales at Betterhomes, commented, 'Q1 2025 reaffirmed Dubai's resilience and global appeal. The shift toward end-users and mortgage-backed buyers reflects deeper confidence in Dubai as a long-term home and investment destination.' The leasing market also thrived, with Betterhomes recording a 49 per cent year-on-year increase in transactions and a 36 per cent jump in tenant leads. Rental prices for apartments and townhouses grew by 14 per cent and 7 per cent, respectively, while villa leasing surged 52 per cent quarter-on-quarter. This spike in demand for larger homes aligns with Dubai's growing family population and evolving lifestyle preferences, as more residents prioritize spacious living environments. Buyer enquiries across all property types reflected strong market confidence. Overall enquiries rose 14 per cent year-on-year and 51 per cent quarter-on-quarter. Apartments saw a 30 per cent increase in leads compared to Q4 2024 and 12 per cent year-on-year. Villas maintained high demand, with enquiries up 38 per cent quarter-on-quarter and 5 per cent year-on-year. Townhouses, however, emerged as a standout, with a 64 per cent surge in enquiries quarter-on-quarter and a 30 per cent rise year-on-year, highlighting their growing popularity among buyers seeking a balance of space and affordability. The sustained investor interest, coupled with Dubai's population growth and appetite for prime and villa properties, has fuelled the market's upward trajectory. However, challenges loom on the horizon. Rising prices and shifting investor sentiment could dampen enthusiasm for speculative off-plan segments. The market's resilience will hinge on timely supply deliveries and broader economic conditions in the second half of 2025. For now, Dubai's real estate sector continues to offer compelling value and global appeal, cementing its status as a premier investment destination. Analysts at Ozon Marketing point to Dubai's unique blend of economic stability, tax advantages, and lifestyle offerings as key drivers of its property market's strength. The emirate's ability to attract high-net-worth individuals and families seeking luxury homes has bolstered demand for villas and prime properties. Additionally, the growing presence of mortgage-backed buyers signals a shift toward long-term investment, further stabilizing the market. Analysts at Kaden Boriss noted that as Dubai's real estate market navigates the delicate balance between growth and sustainability, its performance in Q1 2025 underscores its enduring allure. 'With strong fundamentals and sustained demand across both sales and leasing, the emirate is well-positioned to maintain its upward trajectory, provided supply and economic conditions align,' an analyst said.
