Emaar Properties to distribute 100% of share capital

Emaar Properties has announced its decision to distribute 100% of its share capital as dividends for the year 2024 amounting to Dhs8.8 billion ($2.4 billion), reinforcing its commitment to delivering exceptional value to shareholders.

This is an 100% increase in dividend paid for 2023 of Dhs4.4 billion ($1.2 billion). This significant milestone reflects Emaar’s robust financial performance and dedication to investor satisfaction.

This year’s dividend distribution will result in the total value of initial investments growing almost four times since the company’s inception, marking a remarkable achievement for both Emaar and its investors. This accomplishment underscores Emaar’s consistent ability to generate substantial returns while pursuing growth and innovation.

Emaar’s outstanding performance in 2024 builds upon a legacy of success in previous years. The company’s property sales have reached record levels, driven by innovative developments, strong customer confidence, and a strategic focus on quality and market expansion. These results highlight Emaar’s role as a key contributor to Dubai’s real estate sector and the broader economy.

Closely linked to Dubai’s visionary policies, which create a dynamic business environment and encourage sustainable growth, the company’s progress reflects the emirate’s proactive economic strategies and its dedication to positioning Dubai as a global hub for innovation and investment.

Mohamed Alabbar, Founder of Emaar Properties, commented: “At Emaar, our priority has always been to create exceptional value for our shareholders, and this year’s 100% dividend distribution is a clear reflection of that commitment. We’re thrilled to see our early investors realise returns that have multiplied four times. This achievement highlights the trust placed in Emaar’s vision and our relentless focus on innovation, operational excellence, and delivering world-class developments that enhance lives and contribute to Dubai’s standing on the global stage.”

This success aligns with Emaar’s long-term strategy to consistently enhance shareholder value while expanding its presence in key markets. By embracing digital transformation, prioritising sustainability, and investing in its workforce, Emaar ensures it remains at the forefront of innovation and excellence within the industry.

In August, Emaar Properties has released its financial results for the first half of 2024, reporting total revenue of Dhs14.4 billion ($3.9 billion) and a net profit before tax of Dhs7.8 billion ($2.1 billion), achieving growth of 17% and 33%, respectively over the same period last year.

In a statement, the company said that the improved performance was driven by sustained investors’ confidence and robust demand in Dubai’s real estate market, strong project execution capability, and continued growth in tourism and retail sales.

Emaar’s strategy to improve profit margins and optimise operational efficiencies resulted in Emaar achieving a 24% growth in EBITDA, which rose to Dhs8 billion ($2.2 billion) in H1 2024.

Emaar outperformed its Q1 2024 group property sales in Q2 2024, resulting in record group property sales in H1 2024 of Dhs31.5 billion ($8.6 billion), a 56% growth compared to H1 2023.

This robust momentum in property sales further expanded Emaar’s revenue backlog from property sales, which reached Dhs90.1 billion ($24.5 billion) at the end of June 2024, up 43% from June 2023 and 15% from March 2024.

This backlog represents future revenue from property sales that will be recognised over the next 4-5 years, indicating sustained profitability. Emaar Properties, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa, and Asia. One of the world’s largest real estate companies, Emaar has a land bank of over 1.7 billion sq. ft. in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered approx. 117,000 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with approx. 1.4 million sq. mtr. of leasing revenue-generating assets and 38 hotels and resorts with around 9,200 keys (includes owned as well as managed hotels). Today, 36 percent of Emaar’s revenue is from its shopping malls, hospitality, leisure, entertainment, commercial leasing, and international businesses.

Agencies