Cookie Consent by Privacy Policies Generator website Emaar Development achieves 56% increase in Property Sales for the first half of 2024

GoDubai
  
  
  
  
Citylife > News & Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More News/Press Releses
Featured Sections

Latest Dubai News >> Business and Economy

    Share
  • Emaar Development's sales backlog has increased to AED 74.2 billion (US$ 20.2 billion), to be recognised as revenue in the coming years.
  • Emaar Development announced the launch of two major developments: The Heights Country Club & Wellness and Grand Polo Club & Resort, spanning over a total 141 million square feet of land, with a combined development value of AED 96 billion (US$ 26 billion).
  • In Q2 2024, Emaar Development launched the second phase of 'The Valley' masterplan.

Dubai, United Arab Emirates – August 8, 2024: Emaar Development PJSC (DFM: EMAARDEV), the UAE build- to-sell property development business that is majority-owned by Emaar Properties PJSC (DFM: EMAAR), achieved 56% increase in property sales reaching to AED 29.7 billion (US$ 8.1 billion) for the first half of 2024 (January to June) compared to AED 19 billion (US$ 5.2 billion) for the first half of 2023. This performance resulted from Emaar Development's successful property launches, which created a strong revenue pipeline for the future and marked steady progress towards the company's strategic initiatives to further cement its position as a trusted developer.

During the first half of 2024, Emaar made a significant acquisition of a land plot measuring 60 million square feet near to The Oasis masterplan, with a development value of AED 41 billion (US$ 11 Billion). This compliments the 81 million square feet of land purchased in December 2023 in the same vicinity. Emaar announced the launch of these two major developments on these lands as well: The Heights Country Club & Wellness and Grand Polo Club & Resort, spanning over a total 141 million square feet of land, with a combined development value of AED 96 billion (US$ 26 billion).


Posted by : GoDubai Editorial Team
Viewed 12534 times
Posted on : Thursday, August 8, 2024  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Union Coop Reports Financial Performance for H1 2024
Next Story : Emaar recorded impressive growth of 56% in group property sales in H1 2024 reaching AED 31.5 billion...
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days