Emaar Properties Announces Landmark 100% Dividend Distribution for 2024
Emaar Properties has unveiled a game-changing announcement for its shareholders, committing to distribute an impressive 100% of its share capital as dividends for the year 2024. This amounts to a staggering AED 8.8 billion ($2.4 billion), showcasing Emaar’s unwavering dedication to delivering exceptional value to its investors.
This year’s dividend payout reflects a remarkable 100% increase compared to the AED 4.4 billion ($1.2 billion) distributed in 2023. This milestone underscores the company’s strong financial performance and steadfast focus on exceeding investor expectations.
Record-Setting Returns for Shareholders
The 2024 dividend highlights Emaar’s ability to generate consistent, substantial returns for its investors. Since its inception, the total value of initial investments in Emaar has grown nearly fourfold, marking a monumental achievement for the company and its stakeholders. This accomplishment reaffirms Emaar’s position as a global leader in real estate, driven by innovation and a commitment to excellence.
A Legacy of Success and Innovation
Emaar’s outstanding performance in 2024 builds on its legacy of delivering innovative developments and record-breaking property sales. Strong customer confidence, strategic market expansion, and a relentless commitment to quality have been key drivers of success. These achievements also underline Emaar’s critical role in strengthening Dubai’s real estate sector and contributing to the emirate’s broader economic growth.
A Reflection of Dubai’s Vision
Emaar’s progress aligns seamlessly with Dubai’s forward-thinking economic strategies. The emirate’s dynamic business environment, supported by visionary policies, continues to foster sustainable growth and position Dubai as a global hub for innovation and investment.
Mohamed Alabbar, Founder of Emaar Properties, emphasized:
“Our priority has always been to create extraordinary value for our shareholders. The 100% dividend distribution this year is a testament to that commitment. We are proud to see our early investors enjoy returns that have multiplied four times, reflecting the trust placed in our vision and our dedication to innovation and operational excellence. Emaar remains steadfast in delivering world-class developments that enhance lives and strengthen Dubai’s reputation on the global stage.”
Strengthening Emaar’s Market Leadership
Emaar continues to focus on enhancing shareholder value through strategic growth initiatives. By leveraging digital transformation, prioritizing sustainability, and investing in its workforce, Emaar remains at the forefront of the global real estate industry.
The company reported robust financial results for the first half of 2024, with total revenue reaching AED 14.4 billion ($3.9 billion) and a net profit before tax of AED 7.8 billion ($2.1 billion), reflecting year-on-year growth of 17% and 33%, respectively.
Unprecedented Growth in Property Sales
Emaar achieved record-breaking property sales of AED 31.5 billion ($8.6 billion) in H1 2024, marking a 56% growth compared to H1 2023. This growth significantly expanded Emaar’s revenue backlog from property sales, which stood at AED 90.1 billion ($24.5 billion) by the end of June 2024, ensuring a steady stream of revenue over the next 4-5 years.
A Global Real Estate Powerhouse
Emaar Properties, listed on the Dubai Financial Market, is one of the world’s largest property developers. With a land bank exceeding 1.7 billion square feet across the UAE and international markets, Emaar has delivered approximately 117,000 residential units globally since 2002.
Emaar’s recurring revenue assets include over 1.4 million square meters of leasable space, 38 hotels and resorts with around 9,200 rooms, and a thriving portfolio of shopping malls, leisure, and entertainment assets. Today, 36% of Emaar’s revenue comes from these diverse streams, underscoring the company’s resilience and adaptability.
Looking Ahead
Emaar’s continued focus on operational excellence, sustainability, and customer-centric innovation ensures that it remains a cornerstone of Dubai’s real estate sector while expanding its footprint in key international markets.
