Category: Business Segments

• Four-month rent waiver to support over 50 tenants with Lake and Fountain-facing
terraces

Dubai, United Arab Emirates, 23 April 2025: Emaar Malls Management (LLC) has announced a dedicated rent support initiative for Food & Beverage (F&B) tenants with terrace spaces facing the Lake and Fountain areas at Dubai Mall and Souk Al Bahar. The move comes in light of the closure of Dubai Fountain, which has long served as a key attraction for visitors to these venues.

To help offset the potential impact on footfall and terrace-based dining experiences, Emaar will waive the rent for affected terrace spaces for a period of four months, from June through September 2025.

In addition, Emaar is introducing new measures to further enhance the visitor experience in the area. This includes the installation of 400 metres of state-of-the-art digital screens across the promenade, designed to animate the location with engaging visual content and help retailers maintain footfall during the fountain’s closure.

The Lake and Fountain-facing terraces have long been prized for their vibrant ambiance, offering guests front-row views of Dubai Fountain’s spectacular shows and the serene waterfront setting. With these elements having played a vital role in attracting diners and enhancing the overall visitor experience, Emaar’s gesture underscores its commitment to supporting its tenants through evolving market dynamics.

Supporting Tenants Amid Changing Dynamics

“For years, Dubai Fountain and surrounding lake have contributed significantly to the popularity of these destinations,” said Mohamed Alabbar. “As we move into a new chapter, this rent support reflects our commitment to long-term partnerships and to helping tenants navigate this transition with resilience and confidence.”

A Continued Commitment to Excellence

The terraces at Dubai Mall and Souk Al Bahar continue to offer unmatched city views, world- class cuisine, and a unique atmosphere. With this support and the introduction of immersive digital enhancements, tenants are well-positioned to continue delivering memorable experiences while adapting to the changing dynamics of the area.

Emaar Malls remains steadfast in its commitment to empowering businesses with sustainable solutions that foster growth and value across its retail communities.

–Ends–

Note to Editors:

About Emaar Properties

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa, and Asia. One of the world’s largest real estate companies, Emaar has a land bank of ~1.7 billion sq. ft. in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 118,400 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with approx.

1.4 million sq. mtr. of leasing revenue-generating assets and 38 hotels and resorts with around 9,200 keys (includes owned as well as managed hotels). Today, 34 percent of Emaar’s revenue is from its shopping malls, hospitality, leisure, entertainment, commercial leasing, and international businesses.

Burj Khalifa, a global icon, Dubai Mall, the world’s most-visited retail and lifestyle destination, and Dubai Fountain, the world’s largest performing fountain, are among Emaar’s trophy destinations.

Follow Emaar on:

Facebook: www.facebook.com/emaardubai; X:www.twitter.com/emaardubai; Instagram: www.instagram.com/emaardubai

For all media queries, please contact: PR@emaar.ae

  • Continued Annual Contributions of Over US$ 50 Million to Sustain and Modernise Globally Renowned Events and Attractions
  • Strong Focus on Local Community Impact Through Community Initiatives and Sponsorships

Dubai, United Arab Emirates, 22 April 2025: Emaar, the master developer behind Dubai’s most iconic landmarks, has invested over US$ 1 billion in shaping and enhancing the city’s global identity. This cumulative contribution underscores the company’s long-standing commitment to reinforcing Dubai’s international standing through cutting-edge experiences, vibrant cultural platforms, and landmark social infrastructure.

From creating and operating Dubai Fountain—the world’s largest choreographed fountain—and producing the internationally acclaimed New Year’s Eve celebrations at Burj Khalifa, to enabling the launch and continued success of Dubai Opera as the region’s cultural epicentre, Emaar has consistently raised the bar in enriching Dubai’s urban and cultural fabric.

These signature experiences are sustained and enhanced through ongoing annual investments exceeding US$ 50 million, covering not only the operation and maintenance of key attractions, but also the evolution of immersive technologies and entertainment formats. This includes the modernisation of Burj Khalifa’s façade with next-generation lighting and projection systems, enabling captivating narratives that reach millions of viewers globally.

In addition to its physical contributions, Emaar continues to champion inclusive growth and community wellbeing. Through the Emaar Foundation, the company supports a wide range of local causes—from charitable housing and development programmes to national sports and cultural sponsorships—demonstrating its integral role in nurturing both city and society.

“Emaar’s journey has always been rooted in a vision that transcends construction—it is about crafting experiences that inspire, unite, and leave a lasting impact,” said Mr. Mohamed Alabbar, Founder of Emaar. “Our investments are a testament to our belief in Dubai’s limitless potential, and we are proud to play a key role in defining its global narrative.”

Emaar’s commitment to excellence, innovation, and community empowerment continues to drive progress, shaping Dubai’s future as a leading global hub. With bold ideas and sustained contributions, the company is poised to play an even greater role in defining the city’s next chapter as it strives to become one of the most admired destinations in the world.

–Ends–

Note to Editors:

About Emaar Properties

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa, and Asia. One of the world’s largest real estate companies, Emaar has a land bank of ~1.7 billion sq. ft. in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 118,400 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with approx. 1.4 million sq. mtr. of leasing revenue-generating assets and 38 hotels and resorts with around 9,200 keys (includes owned as well as managed hotels). Today, 34 percent of Emaar’s revenue is from its shopping malls, hospitality, leisure, entertainment, commercial leasing, and international businesses.

Burj Khalifa, a global icon, Dubai Mall, the world’s most-visited retail and lifestyle destination, and Dubai Fountain, the world’s largest performing fountain, are among Emaar’s trophy destinations.

Follow Emaar on:

Facebook: www.facebook.com/emaardubai; X:www.twitter.com/emaardubai; Instagram: www.instagram.com/emaardubai

For all media queries, please contact: PR@emaar.ae

  • Last performance before closure set for 19 April 2025

Dubai, United Arab Emirates, 28 March 2025: As Emaar gears up for the planned renovation of Dubai Fountain, the date for its final show before the refurbishment has been revealed. The iconic fountain, located in the heart of Downtown Dubai, will perform its last show on 19th April 2025, before temporarily closing for a comprehensive restoration aimed at ensuring its continued brilliance.

Since its inception, Dubai Fountain has emerged as a defining symbol of Dubai’s creative prowess, drawing millions of visitors from around the world with its stunning synchronised performances of water, light, and music. The upcoming renovation will preserve the fountain’s spectacular displays, ensuring it continues to mesmerise and inspire visitors for years to come.

Mr. Mohamed Alabbar, Founder of Emaar, said: “Dubai Fountain stands as a reflection of Dubai’s bold vision and its ability to captivate and inspire on a global scale. This restoration underscores our commitment to maintaining its legacy as a beacon of creativity and excellence. We look forward to welcoming guests back to experience the fountain in all its renewed splendour.”

While Dubai Fountain undergoes its scheduled maintenance, visitors can continue to immerse themselves in the vibrant experiences of Downtown Dubai. From world-class shopping and dining at Dubai Mall to awe-inspiring views of Burj Khalifa, the area remains a dynamic hub for both tourists and residents alike.

Emaar looks forward to reopening Dubai Fountain later this year, ensuring it remains a cherished landmark and a source of inspiration for guests from across the globe.

–Ends–


Note to Editors:

About Emaar Properties

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa, and Asia. One of the world’s largest real estate companies, Emaar has a land bank of ~1.7 billion sq. ft. in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 118,400 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with approx. 1.4 million sq. mtr. of leasing revenue-generating assets and 38 hotels and resorts with around 9,200 keys (includes owned as well as managed hotels). Today, 34 percent of Emaar’s revenue is from its shopping malls, hospitality, leisure, entertainment, commercial leasing, and international businesses.

Burj Khalifa, a global icon, Dubai Mall, the world’s most-visited retail and lifestyle destination, and Dubai Fountain, the world’s largest performing fountain, are among Emaar’s trophy destinations.

Follow Emaar on:

Facebook: www.facebook.com/emaardubai; X:www.twitter.com/emaardubai; Instagram: www.instagram.com/emaardubai

For all media queries, please contact: PR@emaar.ae

Dubai, United Arab Emirates – 26 March 2025: Emaar Development PJSC (DFM: EMAARDEV) today held its Annual General Meeting (AGM), where the Board of Directors reviewed the company’s financial performance for 2024 and discussed its future growth strategy.

During the AGM, shareholders approved the Board of Directors’ proposal to distribute a dividend of AED 2.7 billion (US$ 740 million), representing 68% of the share capital. The Board’s report on the company’s activities and financial position, as well as the Auditor’s report, were also approved.

Emaar Development reported property sales of AED 65.4 billion (US$ 17.8 billion) in 2024, reflecting a 75% increase compared to the previous year. The company’s revenue backlog reached AED 90.9 billion (US$ 24.7 billion), supporting future revenue growth. Total revenue for the year amounted to AED 19.1 billion (US$ 5.2 billion), up 61% from 2023, while net profit before tax increased by 20% to AED 10.2 billion (US$ 2.8 billion).

Throughout 2024, Emaar Development launched 62 projects across its master plans, further strengthening its presence in the market and reinforcing its commitment to shaping high-quality communities. The company also acquired 141 million square feet of prime development land, with a total development value of AED 96 billion.

Mohamed Alabbar, Founder of Emaar, commented: “Our 2024 results are a testament to our focus on excellence, innovation, and customer satisfaction. Every project we launch is about more than just real estate—it’s about building communities that enhance the lives of residents and contribute to Dubai’s global appeal.”

He added: “By embracing technology and sustainability, we aim to redefine modern living while ensuring lasting value for our customers and stakeholders. Looking ahead to 2025, we will further strengthen our commitment to introducing new developments that align with our vision for sustainable urban growth, while supporting economic growth and nurturing the next generation of talent.”

-Ends-

Note to editors:

About Emaar Development PJSC:

Emaar Development is a developer of prime residential and commercial build-to-sell (BTS) assets in the UAE. The company is behind iconic freehold master-planned communities in Dubai, including Emirates Living, Downtown Dubai, Dubai Marina, Arabian Ranches, Dubai Creek Harbour, Dubai Hills Estate, Emaar South, Rashid Yachts & Marina, The Valley and The Oasis. It has delivered 74,000+ residential units since 2002. The company has a sales backlog of over AED 90.9 billion. It is a high cash flow generating business, highlighting the company’s robust fundamentals with over 42,000 residential units under development to be delivered.

For more information, please visit https://properties.emaar.com/en/investor-relations/emaar-properties-pjsc/

For more information and media queries:

PR@emaar.ae

The Company Reports Property Sales of AED 70 Billion for 2024

Dubai, United Arab Emirates – 25 March 2025: Emaar Properties PJSC (DFM: EMAAR) today held its Annual General Meeting (AGM), where the Board of Directors reviewed the company’s financial performance for 2024 and outlined its strategic direction for the future.

During the AGM, shareholders approved a 100% dividend payout, amounting to AED 8.8 billion, in line with the company’s commitment to delivering value to its investors. This follows the introduction of Emaar’s updated dividend policy in December 2024. The meeting also included the approval of the auditor’s report for 2024, along with the board’s report on the company’s activities and financial position.

Emaar’s financial results for 2024 reflected strong operational performance and continued growth across its key business segments. The company recorded property sales of approximately AED 70 billion (US$ 19 billion), representing a 72% increase compared to 2023. Emaar’s revenue backlog from property sales exceeded AED 110 billion (US$ 30 billion), supporting future revenue generation.

Total revenue for 2024 reached AED 35.5 billion (US$ 9.6 billion), marking a 33% year-over-year increase, while net profit before tax grew by 25% to AED 18.9 billion (US$ 5.1 billion). EBITDA for the year stood at AED 19.3 billion (US$ 5.2 billion), with a margin of 54%.

Emaar remains focused on delivering ongoing projects as scheduled while prioritising innovation, quality, and operational efficiencies. Investments in digital transformation, talent development, and sustainable growth initiatives will continue to support the company’s long-term strategy.

Mohamed Alabbar, Founder of Emaar Properties, said: “Emaar’s 2024 results reflect our dedication to operational excellence, innovation, and customer experience. As we move forward, we remain committed to sustainable and technology-driven growth, further enhancing Dubai’s position as a leading global destination for investment and development while aligning with the UAE’s Net Zero 2050 vision.”

Looking ahead to 2025, Emaar will continue introducing new developments and lifestyle offerings, further cementing its presence in the real estate sector.

For more information, visit https://properties.emaar.com/en/investor-relations/.

–Ends–

Note to Editors:

About Emaar Properties

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa, and Asia. One of the world’s largest real estate companies, Emaar has a land bank of ~1.7 billion sq. ft. in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 118,400 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with approx. 1.4 million sq. mtr. of leasing revenue-generating assets and 38 hotels and resorts with around 9,200 keys (includes owned as well as managed hotels). Today, 34 percent of Emaar’s revenue is from its shopping malls, hospitality, leisure, entertainment, commercial leasing, and international businesses.

Burj Khalifa, a global icon, Dubai Mall, the world’s most-visited retail and lifestyle destination, and Dubai Fountain, the world’s largest performing fountain, are among Emaar’s trophy destinations.

Follow Emaar on:

Facebook: www.facebook.com/emaardubai; X:www.twitter.com/emaardubai; Instagram: www.instagram.com/emaardubai

For all media queries, please contact: PR@emaar.ae

  • A Celebration of Flavours, Fashion & Entertainment from 7th to 29th March

Dubai, United Arab Emirates – March 6, 2025: Dubai Creek Harbour (DCH) is set to host a vibrant popup activation, Ramadan Nights by the Creek, from 7th to 29th March, offering a dynamic mix of food, homegrown and international brands, live entertainment, and kids’ workshops. This special event promises to be a highlight of the Ramadan season, creating a welcoming atmosphere for families and friends alike.

Located at the stunning Dubai Creek Harbour Promenade, Ramadan Nights by the Creek offers visitors a unique and captivating experience. With its breathtaking views and colourful ambiance, the event combines traditional charm with contemporary attractions, making it a must-visit destination.

At the heart of the event is an exceptional culinary journey, featuring a diverse selection of beloved cafes and restaurants. Renowned brands such as Arabica, Ladurée, Cult Matcha by Trio, Khudri & Chai Al Weekend, Amaya, Feels, and Luna Coffee will present their signature offerings through vibrant food stalls, serving everything from artisanal coffee and gourmet desserts to authentic local dishes, ensuring a feast for every palate.

Beyond the food, attendees will have the opportunity to explore a curated marketplace featuring an array of homegrown brands and international favourites. Fashion and beauty enthusiasts can browse carefully selected collections from brands like Al Aneeqah Style and Dakhoon, offering elegant Emirati pieces that add a touch of sophistication to the occasion.

Adding to the bustling atmosphere, Ramadan Nights by the Creek will feature live performances, as well as interactive kids’ workshops, offering young visitors exciting and creative activities for a truly engaging experience for all ages.

Running daily from 8:00 PM to 3:00 AM, Ramadan Nights by the Creek invites guests to enjoy a delightful evening of gourmet flavours, stylish shopping, and lively entertainment, making it the perfect destination for a memorable night out.

-Ends-


Note to Editors:

About Emaar Properties
Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa, and Asia. One of the world’s largest real estate companies, Emaar has a land bank of ~1.7 billion sq. ft. in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 118,400 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with approx. 1.4 million sq. mtr. of leasing revenue-generating assets and 38 hotels and resorts with around 9,200 keys (includes owned as well as managed hotels). Today, 34 percent of Emaar’s revenue is from its shopping malls, hospitality, leisure, entertainment, commercial leasing, and international businesses.

Burj Khalifa, a global icon, Dubai Mall, the world’s most-visited retail and lifestyle destination, and Dubai Fountain, the world’s largest performing fountain, are among Emaar’s trophy destinations.

Follow Emaar on:
Facebook: www.facebook.com/emaardubai; X:www.twitter.com/emaardubai; Instagram: www.instagram.com/emaardubai

For all media queries, please contact: PR@emaar.ae

Property Sales recorded impressive 75% increase amounting to AED 65 billion (US$ 18 billion); Backlog crosses AED 91 billion (US$ 25 billion)

  • Emaar Development’s Revenue increased by 61% to AED 19.1 billion (US$ 5.2 billion)
  • EBITDA increased to AED 9.4 billion (US$ 2.6 billion) indicating a high EBITDA margin of 49%.
  • Net Profit before tax increased by 20% to AED 10.2 billion (US$ 2.8 billion); a net margin of 53%.

Dubai, United Arab Emirates – 14 February 2025: Emaar Development PJSC (DFM: EMAARDEV), the UAE’s premier property development company specialising in the build-to-sell property development business, and a majority-owned subsidiary of Emaar Properties PJSC (DFM: EMAAR), achieved the best results ever in 2024, through assertive determination challenging the status quo. The company’s performance is a clear testimony of its efficiencies, hard work, customer focus, construction excellence and innovation.

Key Highlights of the Annual Results:

  • Sales Growth: Emaar Development achieved its highest ever property sales of AED 65.4 billion (US$ 17.8 billion); an increase of 75% over 2023 sales of AED 37.4 billion (US$10.2 billion). The success of 62 projects launches across all the masterplans during 2024 further underscores Emaar’s market leadership and positions the company for sustained future growth.
  • Backlog Growth: Enhanced by record sales during 2024, revenue backlog reached to AED 90.9 billion (US$ 24.7 billion) as of 31 December 2024; an increase of 59% from 2023 indicating a significant increase in revenue in the forthcoming years.
  • Revenue Growth: Emaar Development recorded highest ever Revenue amounting to AED 19.1 billion (US$ 5.2 billion) in 2024, a 61% increase compared to 2023.
  • Profitability: The company also recorded its highest ever Net Profit (before tax) of AED 10.2 billion (US$ 2.8 billion); an increase of 20% as compared to 2023.
  • Dividend: Emaar Development’s board has proposed its highest ever dividend of 68% of its share capital amounting to AED 2.7 billion (US$ 740 million), an increase of 31% from 2023, subject to approval of shareholders at the forthcoming Annual General Meeting of the Company.
  • Business Expansion: Acquired 141 million square feet of development land in prime area with a total development value of AED 96 billion during the year.
  • Customer Satisfaction: In 2024, Emaar Development repaired all homes affected by unprecedent rain at its own cost. Our results are due to this unwavering focus on the customer requirements, product and service quality to achieve highest customer satisfaction.
  • Young Talent development for future: Investing in our people is a priority. We are committed to providing training and development opportunities to nurture young UAE National talent, foster a culture of excellence and get them ready to take leadership roles in Emaar in near future.
  • Focus on cost and efficiencies: The Group is passionate about managing its costs in most efficient and optimised manner. The costs are maintained even with significantly increased business through efficient use of resources and innovation.
  • Sustainability: The Group is establishing a detailed strategy in respect of sustainability, and we focus on resource use, waste management, water stewardship, and responsible sourcing while promoting environmental responsibility through various initiatives.

Mohamed Alabbar, founder of Emaar, stated, “We are really pleased with our 2024 results which is a result of us pushing our limits, doubling our targets, achieving the best efficiencies and working hard with complete focus on our customers. Our success is a result of the trust and confidence of our customers and our utmost efforts to go beyond the norm in terms of our product design, delivery quality, superior maintenance of our communities and effective customer service.

The company’s progress also reflects the emirate’s proactive economic strategies and its dedication to positioning Dubai as a global hub for innovation and investment.

With these results, we look forward to a continued positive performance in 2025 as well. We remain committed to unveiling innovative projects and unparalleled offerings.”

Note to editors:

About Emaar Development PJSC:

Emaar Development is a developer of prime residential and commercial build-to-sell (BTS) assets in the UAE. The company is behind iconic freehold master-planned communities in Dubai, including Emirates Living, Downtown Dubai, Dubai Marina, Arabian Ranches, Dubai Creek Harbour, Dubai Hills Estate, Emaar South, Rashid Yachts & Marina, The Valley and The Oasis. It has delivered 74,000+ residential units since 2002. The company has a sales backlog of over AED 90.8 billion. It is a high cash flow generating business, highlighting the company’s robust fundamentals with over 42,000 residential units under development to be delivered.

For more information, please visit https://properties.emaar.com/en/investor-relations/emaar-properties-pjsc/

For more information and media queries:
PR@emaar.ae

Property Sales recorded impressive 72% increase amounting to ~AED 70 billion (US$ 19 billion); Backlog crosses AED 110 billion (US$ 30 billion)

  • Revenue increased by 33% to AED 35.5 billion (US$ 9.6 billion)
  • EBITDA surged to an impressive AED 19.3 billion (US$ 5.2 billion), reflecting a remarkable margin of 54%
  • Net profit before tax increased by 25% to AED 18.9 billion (US$ 5.1 billion)

Dubai, United Arab Emirates – February 13, 2025: In 2024, Emaar Properties PJSC (DFM: EMAAR) delivered its strongest performance ever, driven by a bold determination to challenge conventional limits. This achievement underscores the group’s operational efficiency, steadfast work ethic, customer-centric approach, construction excellence, and innovative spirit.

Key Highlights of the Annual Results:

  • Sales Growth: Emaar achieved its highest ever property sales of ~AED 70 billion (US$ 19 billion); an increase of 72% over 2023 sales of AED 40.3 billion (US$11 billion).
  • Backlog Growth: Bolstered by record property sales in 2024, the group’s revenue backlog from property sales surpassed AED 110 billion (US$ 30 billion) as of 31 December 2024 – marking a 55% increase from 2023 and indicating robust revenue growth for the coming years.
  • Revenue Growth: Emaar recorded highest ever Revenue amounting to AED 35.5 billion (US$ 9.6 billion) in 2024, a 33% increase compared to the previous year.
  • Profitability: The company also recorded its highest ever Net Profit (before tax) at AED 18.9 billion (US$ 5.1 billion); an increase of 25% as compared to 2023.
  • Dividend: In December 2024, Emaar announced a new dividend policy as well as its highest ever proposed dividend of 100% of share capital for 2024 amounting to AED 8.8 billion, an increase of 100% from 2023.
  • Business Expansion: Acquired 141 million square feet of development land in prime area in Dubai with a total development value of AED 96 billion during the year.
  • Customer Satisfaction: In 2024, Emaar repaired all homes affected by unprecedented rain at its own cost. Our results are due to this unwavering focus on the customer requirements, product and service quality to achieve highest customer satisfaction.
  • Young Talent development for future: Investing in our people is a priority. We are committed to providing training and development opportunities to nurture young UAE National talent, foster a culture of excellence and get them ready to take leadership roles in Emaar in near future.
  • Focus on cost and efficiencies: The Group is passionate about managing its costs in most efficient and optimised manner. The costs are maintained even with significantly increased business through efficient use of resources and innovation.
  • Sustainability: The Group is establishing a detailed strategy in respect of sustainability, and we focus on resource use, waste management, water stewardship, and responsible sourcing while promoting environmental responsibility through various initiatives.

Mohamed Alabbar, founder of Emaar, stated, “We are really pleased with our 2024 results which is a result of us pushing our limits, doubling our targets, achieving the best efficiencies and working hard with complete focus on our customers. Our success is a result of the trust and confidence of our customers and our utmost efforts to go beyond the norm in terms of our product design, delivery quality, superior maintenance of our communities and effective customer service.

The company’s progress also reflects the emirate’s proactive economic strategies and its dedication to positioning Dubai as a global hub for innovation and investment.

With these results, we look forward to a continued positive performance in our shopping centres, hotels, and property sales in 2025. We remain committed to unveiling innovative projects and unparalleled offerings across all our business divisions.”

UAE Build-To-Sell Property Development

Emaar Development PJSC (DFM: EMAARDEV), sustained its property sales momentum in 2024. With the successful launch of 62 new projects across all master plans in the UAE, Emaar’s property development business in the UAE achieved property sales of AED 65.4 billion (US$ 17.8 billion), reflecting a growth of 75% compared to 2023.

In 2024, Emaar Development reported revenue of AED 19.1 billion (US$ 5.2 billion) with 61% increase over 2023 and achieved Net Profit before Tax of AED 10.2 billion (US$ 2.8 billion), marking a 20% growth compared to 2023. The consolidated revenue of Emaar Properties from its property development business in the UAE during 2024 reached AED 23.5 billion (US$ 6.4 billion), including Dubai Creek Harbour.

Revenue backlog from property sales in the UAE increased to AED 102.7 billion (US$ 28 billion) as of 31 December 2024, representing a Y-o-Y growth of around 65%.

Shopping Mall, Retail, and Commercial Leasing

Emaar’s shopping malls, retail, and commercial leasing operations recorded revenue of AED 5.6 billion (US$ 1.5 billion) in 2024. During the same period, the portfolio achieved an EBITDA of AED 4.7 billion (US$ 1.3 billion). This performance is primarily attributed to robust growth in tenant sales, which saw an increase of over 7% compared to 2023 and increased occupancy. Our mall assets achieved an average occupancy of 98.5% as of 31 December 2024. Dubai Mall recorded a footfall of 111 million during the year, an increase of around 6% over 2023, becoming the most visited place on Earth for the second consecutive year.

In 2024, Emaar Properties announced a monumental expansion of Dubai Mall with an investment of AED 1.5 billion and including 240 new luxury stores and food and beverage outlets.

Emaar International

Emaar’s international real estate operations recorded property sales of AED 4.1 billion (US$ 1.1 billion) in 2024, an increase of 40% over 2023. The revenue amounted to AED 2.7 billion (US$ 735 million). The performance of international operations in 2024 was primarily driven by Egypt & India. Revenues from international real estate operations represent ~8% of Emaar’s total revenue in 2024.

Hospitality, Leisure, and Entertainment

In 2024, Emaar’s hospitality, leisure, and entertainment divisions recorded revenues of AED 3.7 billion (US$ 1 billion). This growth was driven by a consistent recovery in the tourism industry, coupled with strong domestic spending. Emaar’s UAE hotels increased its average occupancy to 79% and sustained its ADRs level. Emaar expanded its collection of hotels, both domestically and internationally, and added 4 hotels with around 500 keys in 2024.

Recurring Revenue

Emaar’s diverse and sustainable revenue-generating portfolio, encompassing malls, hospitality, leisure, entertainment, and commercial leasing, achieved positive results in 2024. The portfolio recorded revenues totalling AED 9.3 billion (US$ 2.5 billion), showcasing a growth of more than 8% compared to the previous year (excluding Namshi, sold in February 2023 and one-off revenue adjustment in 2023) and an EBITDA of AED 7.1 billion (US$ 1.9 billion). EBITDA from this portfolio constituted 37% of Emaar’s total EBITDA in 2024.

-Ends-


Note to Editors:

About Emaar Properties

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa, and Asia. One of the world’s largest real estate companies, Emaar has a land bank of ~1.7 billion sq. ft. in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 118,400 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with approx. 1.4 million sq. mtr. of leasing revenue-generating assets and 38 hotels and resorts with around 9,200 keys (includes owned as well as managed hotels). Today, 34 percent of Emaar’s revenue is from its shopping malls, hospitality, leisure, entertainment, commercial leasing, and international businesses.

Burj Khalifa, a global icon, Dubai Mall, the world’s most-visited retail and lifestyle destination, and Dubai Fountain, the world’s largest performing fountain, are among Emaar’s trophy destinations.

Follow Emaar on:
Facebook: www.facebook.com/emaardubai; X:www.twitter.com/emaardubai; Instagram: www.instagram.com/emaardubai

For all media queries, please contact: PR@emaar.ae

  • Starting in May, the iconic attraction will be closed for five months

Dubai, United Arab Emirates, 5 February 2025: Emaar has announced the temporary closure of Dubai Fountain, the world’s largest performing fountain, located at Downtown Dubai, to undergo a comprehensive upgrade and routine upkeep. The renovation will commence in May and is expected to take five months to complete.

For years, Dubai Fountain has been the heartbeat of Downtown Dubai, captivating millions of visitors with its synchronised water, music, and light performances. As a symbol of celebration and artistry, it has set the stage for unforgettable moments, applauded by audiences from all over the world.

This enhancement will ensure that the fountain continues to deliver breathtaking performances, elevating the visitor experience with even more mesmerising displays. The upgrades will include advanced technology, improved choreography, and an enhanced sound and lighting system, all designed to create an even more spectacular and immersive show. While the fountain takes a short break for these essential improvements, guests can still immerse themselves in the vibrant offerings of Downtown Dubai, from its world-class shopping and dining experiences at Dubai Mall to its stunning views of Burj Khalifa.

Commenting on the upgrade, Mr. Mohamed Alabbar, Founder of Emaar, stated: “Dubai Fountain is more than a spectacle—it is a reflection of Dubai’s soul, where art, innovation, and emotion come together in perfect harmony. As we elevate this iconic landmark, we continue to create experiences that connect people, inspire wonder, and stand the test of time.”

Emaar remains committed to delivering exceptional experiences, and is excited to unveil an even more spectacular Dubai Fountain upon its return. The fountain’s temporary closure will allow for the necessary improvements to preserve its iconic status as one of the world’s most celebrated water features, ensuring that it remains a cherished destination for years to come.

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About Emaar Properties

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa, and Asia. One of the world’s largest real estate companies, Emaar has a land bank of ~1.7 billion sq. ft. in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 118,400 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with approx. 1.4 million sq. mtr. of leasing revenue-generating assets and 38 hotels and resorts with around 9,200 keys (includes owned as well as managed hotels). Today, 34 percent of Emaar’s revenue is from its shopping malls, hospitality, leisure, entertainment, commercial leasing, and international businesses.

Burj Khalifa, a global icon, Dubai Mall, the world’s most-visited retail and lifestyle destination, and Dubai Fountain, the world’s largest performing fountain, are among Emaar’s trophy destinations.

Follow Emaar on:
Facebook: www.facebook.com/emaardubai; X:www.twitter.com/emaardubai; Instagram: www.instagram.com/emaardubai

For all media queries, please contact: PR@emaar.ae

  • A 9-Minute Masterpiece of Original Music, Lights, Lasers, and Fireworks
  • Live Performances Across Downtown Dubai Build Anticipation for the Main Show

Dubai, United Arab Emirates, 09 Dec 2024 – An international team of over 110 experts from 11 countries has come together to create the most captivating New Year’s Eve celebration in Dubai’s history. Beyond Dreams is a stunning 9-minute performance designed to dazzle audiences worldwide with original music, dynamic light displays, cutting-edge lasers, and explosive fireworks. This extraordinary collaboration will transform Burj Khalifa into not just a towering icon but a symbol of unity, creativity, and technological prowess.

Months of preparation culminated in a show that blends artistry with innovation. Leading up to the main performance, a vibrant lineup of live entertainment—including live music, urban dancers, dynamic drummers, and stunning roving performers—will enliven Burj Park, Dubai Opera Gardens, and Mohammed Bin Rashid Boulevard.

As the final moments of 2024 unfold, the countdown to midnight will ignite a wave of anticipation across Downtown Dubai. The dazzling spectacle will crescendo as the clock strikes twelve. the Beyond Dreams finale promises to transform Burj Khalifa, with its recently upgraded LED façade, into a spectacular canvas of light and sound. Over 15,600 pyrotechnic elements, together with more than 200 state-of-the-art light beams and lasers will create a visually striking and emotionally resonant journey. The show will be a symbol of transformation, unity, and limitless possibilities for the year ahead.

The live broadcast begins at 5:00 PM GST (1:00 PM GMT), with large screens across Downtown Dubai allowing visitors to experience the show from key locations. A global audience can tune in to the live stream at 8:30 PM GST (4:30 PM GMT) on Emaar’s official online channels to witness this remarkable celebration.

The opportunity to experience this extraordinary event in person is still available. Tickets can be purchased at https://mydubainewyear.emaar.com/en/. Attendees will have the chance to witness all the NYE magic from some of the most iconic vantage points in Downtown Dubai. The unique celebration will blend art, innovation, and community spirit, offering an unforgettable way to welcome the new year.

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About Emaar Properties

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa, and Asia. One of the world’s largest real estate companies, Emaar has a land bank of over 1.7 billion sq. ft. in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered approx. 117,000 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with approx. 1.4 million sq. mtr. of leasing revenue-generating assets and 38 hotels and resorts with around 9,200 keys (includes owned as well as managed hotels). Today, 36 percent of Emaar’s revenue is from its shopping malls, hospitality, leisure, entertainment, commercial leasing, and international businesses.

Burj Khalifa, a global icon, Dubai Mall, the world’s most-visited retail and lifestyle destination, and Dubai Fountain, the world’s largest performing fountain, are among Emaar’s trophy destinations.

Follow Emaar on:
Facebook: www.facebook.com/emaardubai; X:www.twitter.com/emaardubai; Instagram: www.instagram.com/emaardubai

For all media queries, please contact: PR@emaar.ae