Emaar Properties resilient performance in 2021

Dubai Financial Market-listed real estate giant Emaar Properties PJSC discussed the stringent measures taken to safeguard continued robust business performance during 2021 at its annual general meeting (AGM) on April 20.

Emaar maximised shareholders value by providing the best customer service and by safeguarding innovation across all products and services provided by the company.

The dividend distribution proposal from the board of directors representing 15 per cent of the share capital was approved at the AGM, confirming Emaar’s keenness to ensure added value for its shareholders.

Emaar continuously strives to maximise shareholders value through providing the best customer service and by safeguarding innovation across all products and services provided by the company. This led to the company achieving real estate sales of Dh33.762 billion ($9.192 billion) in 2021, which is highest on record and is a testament to the clients’ trust in the Emaar brand. Additionally, Emaar reports substantial sales backlog totalling more than Dh46.057 billion ($ 12.539 billion), which will be recognised as revenue over the next few years.

Emaar Properties recorded an EBITDA of Dh9.343 billion ($2.544 billion) and total revenue of Dh28.270 billion ($7.697 billion) for the fiscal year ended December 31, 2021. The performance reflects sustained interest from investors, both domestic and foreign with both local and international sales exceeding pre-pandemic levels.

Mohamed Alabbar, founder of Emaar Properties, said: “The group is optimistic for the year 2022 and is constantly focused on achieving operational excellence, increasing return on investments and enhancing customer satisfaction. To improve its performance, the company will increase its resources, increase its efficiency, and maximise its productivity. The foundations for future growth and long-term shareholder value will be laid by digital transformation, new product innovation, and market penetration.”