In a groundbreaking record, Emaar Properties achieves the highest ever sales performance in 2021 since its incorporation in 1997, with a total of AED 33.762 billion in property transactions.
The global developer announced a significant increase in property sales of 209 per cent reaching AED 33.762 billion (US $9.192 billion) compared to 2020 sales of AED 10.902 billion (US $2.968 billion), demonstrating continued investor confidence in the Emaar brand.
Underlining the robust performance of its real estate business as well as strong performance of recurring revenues from its shopping malls, retail and hospitality businesses, Emaar's 2021 revenue stood at AED 28.270 billion (US $7.697 billion), an increase of 57 per cent compared to 2020. Emaar reported a net profit of AED 3.800 billion (US $1.035 billion) for 2021 compared to the net profit of AED 2.109 billion (US $574 million) in 2020, a growth of 80 per cent.
With a solid sales backlog of AED 46.057 billion (US $12.539 billion), which will be recognised as future revenue for Emaar Properties, the backlog reflects the strength of Emaar's financial position to preserve high revenue, profitability and shareholders' return in the foreseeable future.
Mohamed Alabbar, Founder of Emaar Properties, said: “Emaar’s portfolio of prime, highly sustainable assets is set to continue to benefit from the fundamental shifts occurring within the real estate market as well as the company’s approach to portfolio optimisation. Emaar has a substantial development pipeline and landbank, which, when combined with its high-quality loyal customer base and expanding talented and dedicated team, leaves Emaar well-positioned to execute on its clearly defined strategy and to successfully deliver attractive, sustainable returns for all stakeholders. As one of the most dynamic and growing markets in the world, Dubai's property market is a testament to the strength and resilience of the UAE as a nation and Emaar is proud to lead the way forward.”
- 81,600 residential units in Dubai and international markets since 2002
- 24,500+ units are under development in the UAE
- 10,700+ units in global markets