The financial statements of Emaar Properties, listed on the Dubai Financial Market, revealed a jump in the company's profits in 2022, as profits attributable to shareholders increased by 80%, to reach 6.8 billion dirhams, compared to 3.8 billion dirhams in 2021.
According to the statement published on the Dubai Financial Market website, real estate sales of Emaar, after launching new projects during 2022, amounted to about 35.1 billion dirhams, compared to 33.8 billion dirhams during 2021. While the cumulative sales of projects under completion in 2022 amounted to about 53.2 billion dirhams, compared to With 46.1 billion dirhams in 2021.
The Corona (Covid-19) pandemic increased pressure on the real estate sector in Dubai, as supply continued to exceed demand for housing units for several years, but the sector improved after Dubai eased restrictions related to the pandemic faster than most cities in the world.
Emaar Properties includes under its umbrella a number of companies such as Emaar Development, Emaar International, and Emaar Shopping Malls Management.
Emaar Properties is one of the largest real estate developers in the UAE, with many projects in the Middle East, North Africa and Asia, and has a land portfolio of 1.7 billion square feet in the UAE and abroad.
