Emaar Properties achieves AED 12.4bn net profits in 9M-24 - Mubasher Info

Emaar
EMAAR 0.33% 9.10 0.03

Dubai – Mubasher: Emaar Properties delivered consistent growth and operational efficiency across its diverse business segments during the first nine months (9M) of 2024, according to a press release.

Total revenues enlarged by 30% year-on-year (YoY) to AED 23.80 billion ($6.50 billion) in 9M-24, while the net profits before tax hiked by 24% YoY to AED 12.40 billion ($3.40 billion).

The positive performance further expanded the company’s revenue backlog from property sales to more than AED 100 billion ($27.20 billion) as of 30 September 2024, marking an annual leap of 45%.

Emaar’s strategy to improve profit margins and optimise operational efficiencies resulted in achieving a 17% growth in earnings before interest, taxes, depreciation, and amortisation (EBITDA)valued at AED 12.60 billion ($3.40 billion) in 9M-24.

This growth is underpinned by Emaar’s commitment to delivering premium projects and experiences, enhancing value for both its customers and stakeholders.

Emaar’s momentum in property sales continued, reaching AED 50 billion ($13.60 billion) in the January-September 2024 period, a 60% increase compared to the same period in 2023.

As of 30 June 2024, the total revenues of Emaar amounted to AED 14.40 billion ($3.90 billion).

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