Emaar Properties reported the Highest ever sales In 2021 at AED 33.76B
February 22, 2022
Emaar Properties reported the Highest ever sales In 2021 at AED 33.76B
Emaar Properties, which is one of the leading development companies in the UAE, has reported a continued steady interest from both local and foreign investors. The net profit of the developer for 2021 constituted AED 3.8B (USD 1.035B) compared to the net profit of AED 2.109B (USD 574M) in 2020, which demonstrates a growth of 80%. The company has handed over more than 81,600 residential units in the emirate of Dubai, as well as its international markets since 2002. These indicators perfectly reflect the company's robust project implementation capabilities that have attracted buyers and investors from all over the world.
The growth in property sales by Emaar to the amount of AED 33.762B (USD 9.192B) showed a significant increase of 209% compared to sales in 2020 that amounted to AED 10.902B (USD 2.968B). These results are the highest since the company's foundation in 1997, which demonstrates the continued confidence of investors in the EMAAR brand.
Throughout 2021, the Dubai-based real estate developer Emaar, had successfully demonstrated its position as one of the leading real estate companies in the UAE. Emaar has recorded explosive growth on the completion of projects such as Opera Grand and Dubai Hills Vista, designed in collaboration with the iconic Automobili Lamborghini brand. In addition, the developer has successfully delivered more than 3,700 residential properties in the emirate's most sought-after areas such as Dubai Creek Harbour, Downtown Dubai, Emaar South and Dubai Hills Estate.
According to the Emaar Properties statement, the company's revenue in 2021 amounted to AED 28.270B (USD 7.697B) due to the outstanding indicators of the property market and constant income from its retail shopping centers, retail and hotel businesses. The developer's revenue in 2021 increased by 57% compared to 2020.
The founder of Emaar Properties, Mohammed Alabbar, stated that the company has significant development potential, an extensive base of loyal customers, a land bank, and an ever-growing dedicated team. The portfolio of first-class, highly stable assets of the company allows investors and buyers to profitably take advantage of the fundamental changes taking place in the real estate market. Due to the above advantages, Emaar Properties has all the necessary resources and capabilities to implement its strategy and successfully ensure sustainable profits for all stakeholders.
Also worth mentioning is the availability of 5-10 year golden visas for investments in luxury apartments in the long-awaited luxury community of Emaar Beachfront, whose master plan includes 27 residential buildings that will house 10,000 private residences with exclusive amenities. Marina Vista, Sunrise Bay and Beach Vista have already been completed, while Grand Bleu Tower and Beach Isle will be ready by mid-2023. In addition, in the second half of 2021, the developer announced the construction of a new complex, Beach Mansion, which will be another addition to the long-awaited Emaar Beachfront area. The complex will consist of two buildings, where Tower 1 will have 37 floors (G+M+6P+37) and Tower 2 will have 20 levels (B+G+M+6P+20). The project will be delivered in Q1 2025.
Among the most famous projects of the leading real estate developer are the Emaar Beachfront artificial island, the Burj Khalifa skyscraper, The Dubai Fountain and The Dubai Mall in Dubai, Jeddah Gate in Saudi Arabia, Tuscan Valley in Turkey and Samarah Dead Sea Resort in Jordan.
