Emaar Properties PJSC held its Annual General Meeting (AGM) in Dubai on Monday, April 22, 2024, where shareholders approved the Board of Directors' proposal for a noteworthy dividend of 50 fils per share, amounting to Dh4.4 billion ($1.2 billion). This decision underscores the company's robust financial health and unwavering commitment to delivering value to its shareholders. The meeting also saw the approval of the board's report and the auditor's report on the company's operations and financial status for the year 2023.

During the AGM, the board of directors highlighted Emaar's impressive performance in 2023 and outlined the rigorous measures taken to ensure consistent business excellence throughout the year. The company achieved strong group real estate sales of Dh40.3 billion ($11 billion), with Dh37.4 billion ($10.2 billion) generated in the domestic market alone. This reflects the continued trust of customers in the Emaar brand and the caliber of its management. Compared to the previous year, Emaar witnessed a 7% growth in revenues, reaching Dh26.7 billion ($7.3 billion), and a remarkable 70% increase in net profit, totaling Dh11.6 billion ($3.2 billion) in 2023. The growth was fueled by increased retail sales, rising demand for real estate, and a thriving tourism sector. Moreover, Emaar's earnings before interest, taxes, depreciation, and amortization (EBITDA) surged by 67% in 2023, reaching Dh17.3 billion.

The positive momentum continues into 2024, with Emaar maintaining a high level of domestic real estate sales. The company has already booked over Dh19 billion in sales this year, marking a more than 60% increase compared to the same period last year.

Mohamed Alabbar, the founder of Emaar Properties, expressed optimism about the company's future, stating, "In light of the remarkable results we are witnessing in 2024, Emaar is highly optimistic and relentlessly focused on exceeding operational excellence, amplifying investment returns, and improving customer satisfaction." He emphasized Emaar's commitment to launching groundbreaking projects that contribute to Dubai's economy, increase long-term shareholder value, and drive robust growth through strategic initiatives in digital transformation, product innovation, and market penetration.

Emaar Properties' AGM showcased the company's strong financial performance, strategic vision, and dedication to delivering value to shareholders while contributing to the growth and development of Dubai's real estate sector.