Emaar Delivers Record-Breaking Performance in 2024

Dubai-based Emaar Development Chairman Adnan Kazim on Monday said that the company has delivered a record-breaking performance in 2024, achieving its highest-ever sales, revenue, and profitability.

Property sales soared by an impressive 75% to $17.8 billion, reflecting strong market demand and the company’s exceptional offerings. Revenue surged 61% to $5.2 billion, while EBITDA reached $2.6 billion, maintaining a robust margin of 49%.

He said that the net profit before tax rose by 20% $2.8 billion, with a healthy net margin of 53% and with a growing backlog of $25 billion, Emaar Development continues to strengthen its leadership in the real estate sector, reinforcing its commitment to delivering world-class communities.

“We understand the emerging market trends such as the growing demand for sustainable developments, and diverse consumer segments and we have successfully delivered innovative, versatile spaces that seamlessly integrate work, living, and leisure,” he said in the company’s integrated annual report 2024.

The company’s new property launches have not only contributed to reshaping cityscapes but have also played a pivotal role in building dynamic communities that elevate modern real estate development.

Supported by a strong portfolio of high-value assets, we are well-positioned to reinforce our market leadership. Additionally, their substantial gross land bank of 367 million sq. ft. provides a solid foundation for long-term growth and future opportunities.

Next Growth Phase

According to him, Emaar Development continues to strengthen its market leadership through strategic expansion, customer-centric initiatives, and a commitment to sustainability.

In 2024, the company has acquired 141 million sq. ft. of prime development land, with a total projected value of $26.14 billion, paving the way for future growth.

Emaar has developed a comprehensive ESG strategy that prioritises climate change and responsible resource use. Investing in the young UAE national talent remains a priority, with extensive training programmes designed to cultivate future leaders.

Meanwhile, the company’s focus on cost efficiency ensures sustainable growth, leveraging resource optimisation and innovation to maintain financial discipline amid expanding operations. With a strong emphasis on sustainability, Emaar is developing a comprehensive strategy that prioritises responsible resource use, waste management, water stewardship, and ethical sourcing.

“These initiatives reflect Emaar’s unwavering commitment to shaping a resilient, customer-focused, and future-ready real estate landscape,” he noted.

Looking Ahead

At Emaar Development, their vision is backed by a bold growth strategy and an exceptional team committed to turning aspirations into achievements.

“As we step into 2025, our focus remains on driving business expansion, delivering key projects, and advancing sustainability efforts. We are dedicated to empowering our people, enhancing their skills, and preparing them for the evolving demands of the future. At the same time, we continue to prioritise long-term value creation for our shareholders,” he said.

With the UAE’s economy becoming more diversified and globally recognised, the company is proud to contribute to its transformation in alignment with the ‘We the UAE 2031’ vision, he said.

“Our commitment goes beyond constructing spaces—we are building future-ready, sustainable communities that enhance urban living and drive economic resilience. By fostering smart, inclusive, and thriving environments, we aim to shape cities that not only meet today’s needs but also anticipate the demands of tomorrow,” he added.