Emaar shareholders approve 10% dividend

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Shareholders of Emaar Properties , Dubai's largest real estate developer, met on Tuesday and approved the board's recommendation to distribute a 10 percent cash dividend for 2012.

Before the meeting, Emaar shares rose 2.1 percent on Tuesday, extending strong gains in recent days, partly on speculation by some investors that shareholder pressure might prompt management to raise the dividend, traders said.

Emaar's revenue from sale of apartments more than doubled last year, offseting a sharp drop in sales of commercial units that is struggling to recover three years after the emirate's property market collapse.

The builder of the world's tallest tower generated a revenue of AED2.5bn from sales of condominiums last year, compared with AED1.1bn in 2011.

However, income from sale of commercial units, plots and others dropped significantly to AED682.2m compared with AED2.7bn in the prior-year.

Emaar is one of the better performing companies in Dubai's real estate sector with its focus on retail and hospitality segments helping it see through the emirate's real estate crash which resulted in a 50 percent slump in prices.

Dubai itself has witnessed a gradual recovery in its property market largely buoyed by return of speculative buyers in the home sales segment.

Last year, Emaar handed over some 1,100 homes and more than 140,000 sq ft of commercial office space in Dubai as well as over 700 homes and more than 122,000 sq ft of commercial space in its international markets.

Emaar launched several projects including Panorama at The Views, The Address The BLVD in Downtown Dubai, and luxury villas and town houses in Arabian Ranches.

Related:

Market Performance

Emaar Properties - UAE
10.25
0.0 0.0 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: Andy

How can sales be up,rents be up,and income drop to almost 1/4 of what it was before while claiming a recovery in the real estate market? Labour costs are low as their builders are underpaid foreign imported construction workers. There are no income taxes as well on profits. Something is beyond not right here.

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Time to invest?

Time to invest?

Foreign investors are seeing Qatar as an ideal place to purchase...

1
Heading for a correction?

Heading for a correction?

Property prices may have held relatively steady in Lebanon during...

1
Emaar's 'city of the future' explained

Emaar's 'city of the future' explained

The Iraqi city of Erbil is aiming to build on Dubai’s rapid march...

1
Most Discussed
  • 15
    Germany puzzled as UAE think tank ordered to close

    Matt, your words sound kind of funny given the role the Britain has played in this region for so many decades.
    And given the democratic tradition that... more

    Thursday, 17 April 2014 7:10 PM - one of the joes
  • 10
    UAE father who whipped son to death wins appeal

    "Under Sharia, a parent cannot be executed for killing their child"
    A spouse could be executed if he/she kills his/her spouse, as none of them is... more

    Friday, 18 April 2014 3:38 PM - Nihar
  • 3
    To diet or not to diet?

    It is best to eat by your blood type. Following this diet is miraculous. Generic diets don't always work as certain foods are not good for the individual... more

    Friday, 18 April 2014 11:49 AM - Shamira Mitha
  • 54
    Three UAE women attacked with hammer at London hotel

    I really feel that Arabian Business.Com should now close this comments page. This should be all about sympathy for the families not what it is/has turned... more

    Wednesday, 16 April 2014 1:06 PM - Adrienne
  • 51
    Why Dubai isn't a plastic city

    What is definitely not a plastic city. The Arabs have a culture dating back to several centuries. 50 years back Dubai was just a fishing village. Today... more

    Tuesday, 8 April 2014 3:49 PM - P. MADHUSUDAN
  • 48
    DMCC boss Ahmed Bin Sulayem entertains Robert Mugabe in Dubai

    @fga ''However today, simply because he decided to dispossess a few white farmers of their land and redistribute to the poorer indigenous blacks'' more

    Sunday, 13 April 2014 3:02 PM - Matt Williams