The UAE real estate company, Emaar Properties, achieved a growth of 184% in profits for the third quarter of 2021 to reach 1.018 billion dirhams, compared to 359 million dirhams during the third quarter of 2020.
According to Arabiya Net, the revenues of the third quarter of 2021 amounted to 6.832 billion dirhams, or 1.860 billion dollars, an increase of 65% over the revenues of the third quarter of in 2020, amounting to 4.131 billion UAE dirhams.
The company's profits rose to 2.578 billion dirhams at the end of the first nine months of 2021, compared to profits of 2.057 billion dirhams during the same period in 2020.
Emaar stated that it achieved significant growth in real estate sales during the first nine months of 2021, which rose by more than 236%, to reach 26.146 billion dirhams or what equivalent to 7.11 billion dollars, compared to the same period in 2020.
The company said it was able to achieve these results thanks to its project development work in the UAE in addition to its international operations, which confirms the continued confidence of investors in the Emaar brand and its rapid growth.< /p>
Emaar Properties recorded revenues of 19.332 billion dirhams, equivalent to 5.263 billion dollars, during the first nine months of 2021, an increase of 57%, over revenues of 12.351 billion dirhams. or $3.363 billion during the same period in 2020.
The net profit for the first nine months of 2021 amounted to 2.587 billion dirhams, equivalent to $702 million, an increase of 25% over the net profit of 2.057 billion dirhams. Equivalent to $560 million during the same period last year.
Emaar owns a high percentage of cumulative real estate sales of projects under completion, amounting to 46.927 billion dirhams, or 12.776 billion dollars, whose revenues will be calculated in the next three to four years , which reflects the strength of the company's financial position and its ability to maintain high revenues, profitability and shareholder returns for the foreseeable future.
