Emaar Development reports a 25% increase in property sales, reaching AED 19bln (US$ 5.2bln) for the first half of 2023

Emaar Development reports a 25% increase in property sales, reaching AED 19bln (US$ 5.2bln) for the first half of 2023

Emaar unveils The Oasis, a majestic lifestyle destination in Dubai, showcasing the company’s unwavering commitment to strategic initiatives and relentless pursuit of excellence.

Emaar Development’s sales backlog has increased to AED 53.2 billion (US$ 14.5 billion), to be recognised as revenue in the coming years.

Dubai, United Arab Emirates: Emaar Development PJSC (DFM: EMAARDEV), the UAE's premier property development company specialising in build-to-sell property development business that is majority-owned by Emaar Properties PJSC (DFM: EMAAR), continued the growth in property sales in the second quarter (April to June) of 2023 as well.

The company's property sales increased by 25%, reaching AED 19 billion (US$ 5.2 billion) for the first half (January to June) of 2023 compared to AED 15.2 billion (US$ 4.1 billion) in the first half of 2022. This performance is attributed to the 16 successful launches of new projects across various master plans, creating a pipeline for future revenue.

In June, Emaar revealed its newest lifestyle destination, The Oasis by Emaar, one of Dubai's largest and most prestigious developments, covering a total land area of more than 100 million square feet (9.4 million square meters).

With a total development value of ~USD 20 billion, the development boasts exceptional architectural design by the world's