Emaar Development reports AED 83.7bn sales backlog in 9M-24 - Mubasher Info

Emaar Development
EMAARDEV -2.78% 10.50 -0.30

Dubai – Mubasher: Emaar Development posted revenues valued at AED 12.50 billion ($3.40 billion), marking a 69% year-on-year (YoY) leap, according to the financial statements.

Emaar sales backlog reached AED 83.70 billion ($22.80 billion) in 9M-24, 47% higher than December 2023, to be recognised as revenue in the coming years.

Property sales rose by 66% to AED 48 billion ($13.10 billion) as of 30 September 2024, compared to AED 28.90 billion ($7.90 billion) for the same period in 2023.

Mohamed Alabbar, Founder of Emaar, commented: "By continuing to innovate and stay ahead of market trends, we create experiences that resonate with evolving lifestyles. Our strategy is centred on adding sustainable value for both our customers and shareholders, driving growth that aligns with Dubai’s ambitions."

In the first half (H1) of 2024, the group’s property sales hiked by 56% to AED 29.70 billion ($8.10 billion) from AED 19 billion ($5.20 billion) in H1-23.

Source: Mubasher Source: {{details.article.source}}