Emaar Development has announced a massive 66 per cent uplift in property sales in the first nine months of this year.
The UAE development company, owned by Emaar Properties, saw sales of AED48bn ($13.1bn) during the first nine months of 2024, compared to AED28.9bn ($7.9bn) for the same period in 2023.
The success of 50 projects launches across all the masterplans during first nine months of 2024 further underscores Emaar’s market leadership and positions the company for sustained future growth.
Emaar Development real estate sales
During third quarter of 2024, Emaar introduced “Lavita” at The Oasis, its first community of luxury mansions. Set within a waterfront landscape, this collection feature 43 six- and seven-bedroom homes.
Each mansion reflects one of four architectural styles, tailored to the unique character of its residents. Part of The Oasis, a 100-million-square-foot master-planned community, Lavita integrates wellness centres, boutique shops, and walking trails, with energy-efficient systems and eco-friendly materials woven throughout.
In the first nine months of 2024 (January to September), Emaar Development reported a revenue of AED12.5bn ($3.4bn) and an EBITDA of AED6bn ($1.6bn), 69 per cent and 35 per cent higher than first nine months of 2023, respectively.
With a continued uptrend in sales, Emaar sales backlog has reached AED83.7bn ($22.8bn), 47 per cent higher than December 2023, to be recognised as revenue in the coming years.
Mohamed Alabbar, founder of Emaar, said: “Our performance this quarter reflects the confidence and trust that our customers place in Emaar’s vision. By continuing to innovate and stay ahead of market trends, we create experiences that resonate with evolving lifestyles.
“Our strategy is centred on adding sustainable value for both our customers and shareholders, driving growth that aligns with Dubai’s ambitions.”
Dubai’s rapid population growth has further solidified its position as a global hub for trade, financial services, logistics, travel, and hospitality. With the city’s population nearing 3.8m and continuing to rise, demand for housing, infrastructure, and services is expanding at an unprecedented pace.
This growth is also driven by emerging sectors such as technology, renewable energy, healthcare, and education, attracting a diverse community of skilled professionals.
The developer’s strong sales in the first nine months of 2024 reflect the region’s ability to accommodate this population surge while sustaining high levels of investment and economic growth.
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