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.
This led the company to achieve real estate sales of $9.192 billion (AED 33.762 billion) in 2021, which is highest on record and is a testament to the clients’ trust in the Emaar brand.
Additionally, Emaar reported substantial sales backlog totaling more than $12.539 billion (AED 46.057 billion), which will be recognised as revenue over the next few years.
The founder of Emaar Properties, Mohamed Alabbar, 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.”
The dividend distribution proposal from the Board of Directors representing 15 percent of the share capital was approved at the AGM, confirming Emaar’s keenness to ensure added value for its shareholders.
During the meeting, the Board of Directors’ 2021 report on the company’s activities and financial position and the auditor’s report were also approved.
Emaar stated that it will continue to work diligently to complete all ongoing projects for delivery within the timeframes specified and the company will retain its extremely strong position through strategic investment in its highly qualified talent, digital systems, and additional resources, which will safeguard all process efficiencies and align the company with its future vision.
Emaar Properties PJSC recorded an EBITDA of $2.544 billion (AED 9.343 billion) and total revenue of $7.697 billion (AED 28.270 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.
Setting new benchmarks in design, build quality, and innovation, Emaar consistently offers premium experiences and lifestyle opportunities across market segments; and its properties continue to remain sought-after by investors at home as well as abroad.
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