Emaar Properties PJSC reported one of the highest half-year sales in Dubai at 9.443 billion dirhams ($ 2.571 billion) during the first six months of 2019. This is 52 percent higher than the half-year 2018 sales of 6.229 billion dirhams.
Led by the resilient performance of Emaar’s UAE build-to-sell property development business as well as malls and hospitality businesses, Emaar recorded H1 2019 revenue of 11.569 billion dirhams and net profit of 3.110 billion dirhams.
As of June 30, Emaar has a total sales backlog of 49.188 billion dirhams, including international operations. This will be recognized as revenue in the next three to four years, highlighting the strong financial fundamentals of the company and the successful value-creation model for its stakeholders.
Mohamed Alabbar, chairman of Emaar Properties, said: “The driving force of Emaar’s strong, consistent performance this year is the enhanced reputation of Dubai as the first choice among the leading global destinations for property investment. Our successful expansion to malls and hospitality, which complements the tourism sector of Dubai, too generates significant revenue. As a catalyst of the economy, and with our commitment to creating value, we will continue to strengthen our three core businesses, especially by leveraging the power of digital connectivity and engagement.”