Emaar Properties achieves outstanding performance in H1-24
Emaar Development saw a remarkable 30% growth in sales volumes, driven by the successful completion of 30 project launches during the period, according to a press release
Staff Writer, Mubasher
Emaar Properties delivered resilient performance and operational efficiency across its various businesses during the first quarter (Q1) of 2024, according to a press release.
Emaar Development saw a remarkable 30% growth in sales volumes, driven by the successful completion of 30 project launches during the period, according to a press release.
Notable projects like Address Residences Zabeel and Palace Residences Dubai Hills Estate sold out 2500 units each within just seven days of opening for sale.
Total unit sales grew to 8,400 in Q1-24, representing a 56% increase over the same period last year.
This performance was enabled through strategic partnerships with 995 agencies and training of nearly 6,000 property consultants at the Emaar Academy.
Emaar was also productive on the construction front, awarding 50 new contracts worth AED 8.70 billion over the six-month period.
Emaar Malls maintained its position as the world’s most visited retail and entertainment destination, with Dubai Mall attracting 105 million visitors and recording an 8% increase in footfall.
Customer experience was further enhanced through improvements to parking facilities and revolutionary new washroom designs. Dubai Opera also set new attendance records, hosting 250,000 spectators at its world-class cultural events.
On the operational excellence front, Emaar conducted over 2331 fire safety training sessions for its employees and retailer partners.
The community management team effectively managed flood relief efforts for over 4,500 homes affected by heavy rainfall in April 2024.
Internationally, Emaar witnessed stellar project launches with the complete sell out of its luxury residences project Urban Oasis in Gurgaon, India.
The company’s projects in Karachi, Pakistan were also making good progress.
Looking ahead, Emaar reaffirmed its unwavering commitment to quality, customer satisfaction, innovation, and sustainability across its diversified real estate and hospitality portfolio.
During an internal meeting, Mohamed Alabbar, Founder of Emaar Properties, said: “Our performance in H1-24 shows Emaar’s relentless pursuit of excellence and innovation. We are not just managing businesses; we are shaping legacies and transforming communities for a prosperous future.”
In first quarter (Q1) of 2024, Emaar Properties’ revenues rose to AED 6.70 billion ($1.80 billion).
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