Tuesday, June 25, 2024

Emaar Properties set Record for Real Estate Sales of $9.5 Billion in UAE

Emaar Properties said that its group property sales in 2022 totaled 35.1 billion dirhams ($9.5 billion), mostly as a result of the introduction of new projects.

The global Emirati real estate development corporation projected improved performance from its recurring revenue activities in addition to ongoing growth in profitability and property sales in 2022.

Emaar has a backlog of 53.2 billion dirhams worth of property sales that will be recognised as revenue in the upcoming years.

Emaar reported revenue of 24.9 billion dirhams in 2022, which was boosted by the ongoing expansion of the recurring revenue industries brought on by the recovery of international tourism.

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