Dh2.082bn dividend approved for payment

Emaar Development shareholders approved the board's proposal to pay a dividend of Dh2.082 billion ($567 million), equivalent to 52% of the share capital (~52 fils per share).

Emaar Development PJSC reported real estate sales of Dh37.4bn last year, up 22% compared to 2022, resulting in a sales backlog of Dh57.1bn, which will be recognized as income in the coming years.For 2023, the company reported revenues of Dh11.9bn and net profit of Dh6.6bn, up 74%.

In 2023, Emaar Development delivered more than 12,000 residential units in key locations such as Dubai Hills, Dubai Creek Harbour, Downtown Dubai, Imaar Waterfront, Arabian Ranches and Imaar South. As of December 2023, Emaar has delivered more than 70,000 residential units in the UAE and more than 25,500 residential units are currently under development in the UAE.