Emaar’s group property sales hit Dhs9.2b in Q1 – Gulf Today

Emaar’s group property sales hit Dhs9.2b in Q1 – Gulf Today

Photo used for illustrative purpose.

Emaar Properties has announced robust Q1 2023 financial results attributed to good property sales performance and operational excellence across its businesses.

Emaar reported revenue of Dhs6.3 billion ($1.7 billion) in the first quarter of 2023, supported by increased tourism, retail sales and demand for real estate projects in Dubai. Emaar recorded an EBITDA and net profit for the first quarter of 2023 of Dhs4.0 billion ($1.1 billion) and Dhs3.2 billion ($873 million), respectively, which is an increase of 26 per cent and 43 per cent, respectively, compared to the first quarter to 2022.

In the first quarter of 2023, Emaar’s group property sales reached Dhs9.2 billion ($2.5 billion), an 11 per cent increase compared to Q1 2022. Emaar’s revenue backlog from property sales increased to Dhs55.7 billion ($15.2 billion), which will be recognised as revenue in the coming years.

Mohamed Alabbar, Founder of