Emaar claims impressive 2023 numbers

  • Date: 10-Feb-2024
  • Source: Arabian Post
  • Sector:Real Estate
  • Country:UAE
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Emaar claims impressive 2023 numbers

Arabian Post Staff Emaar recorded revenues of AED 26.7 billion (US$ 7.3 billion) and net profit of AED 11.6 billion (US$ 3.2 billion) in 2023, achieving growth of 7% and 70% respectively compared to the same period last year, the company announced. This performance was supported by growth in tourism, a continued upward trend in retail sales, and a consistent increase in real estate demand. Emaar also […]

via Emaar claims impressive 2023 numbersArabian Post Staff

Emaar recorded revenues of AED 26.7 billion (US$ 7.3 billion) and net profit of AED 11.6 billion (US$ 3.2 billion) in 2023, achieving growth of 7% and 70% respectively compared to the same period last year, the company announced. This performance was supported by growth in tourism, a continued upward trend in retail sales, and a consistent increase in real estate demand. Emaar also achieved 63% growth in EBITDA, reaching AED 16 billion (US$ 4.4 billion) during 2023 as compared to 2022.

With a 15% year-over-year growth, Emaar achieved group property sales of AED 40.3 billion (US$ 11 billion) in 2023. Enhanced by property sales during 2023, the group’s revenue backlog from property sales reached AED 71.8 billion (US$ 19.5 billion) as of 31 December 2023, indicating