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While Emaar’s New Year’s Eve celebration remains free for all to enjoy, a unique ticketed viewing experience is introduced at Burj Park in a front-row-set experience of the Burj Khalifa world-famous show.
Dive into culinary delights with Emaar Hospitality at premium destinations such as Address Downtown, Address Sky View, Armani Hotel Dubai and more.
Experience a vibrant evening at Dubai Opera with live entertainment, a fine-dining experience and an exclusive view of the Burj Khalifa fireworks at midnight.
Elevate your celebration at Sky Views Observatory, the ultimate vantage point for the grand spectacle.

United Arab Emirates, Dubai, 02 November 2023 – Emaar Properties PJSC, the globally renowned property developer, is set to elevate the iconic Emaar New Year’s Eve celebrations in Dubai with an unparalleled feast of sights and sounds. Recognized globally for its unmatched spectacle year after year, this edition promises to be bigger and more spectacular than ever before.

Free Celebrations with Exclusive Option

This year, attendees can dive into the heart of Downtown Dubai, offering an exclusive and immersive experience with the introduction of “Emaar New Year’s Eve at Burj Park.”

While Emaar’s New Year’s Eve celebration remains accessible to all to enjoy free of charge, this new feature is designed for attendees wishing to experience the magic differently.

Ticket holders can secure a coveted direct view of the Burj Khalifa fireworks as well as the light, music & sound show, without the typical hustle and bustle. Further enhancing the celebration, attendees will enjoy F&B and live entertainment leading to the celebrations curated especially for the occasion.

Dine in Splendour with Emaar Hospitality
Step into the New Year with Emaar Hospitality’s premier culinary destinations at Address Downtown, Address Sky View, Address Fountain Views, Address Boulevard, Address Dubai Mall, Palace Downtown, Armani Hotel Dubai, Vida Downtown, Manzil Downtown and At.mosphere Restaurant. Each venue, a jewel in the heart of Downtown Dubai, is poised to deliver a dining experience that combines luxury with festive flair. Guests can anticipate a night of lavishness with expertly curated gourmet menus, the pinnacle of service, and an environment infused with elegance. www.emaarhospitality.com

Dubai Opera’s New Year’s Eve Extravaganza
Celebrate at Dubai Opera for a night of unmatched elegance this New Year’s Eve. The evening begins with the harmonious Dubai Opera Big Band, serenading the audience with their smooth jazz melodies, then transitioning to the compelling sounds of Grammy-awarded Fantastic Negrito. As the clock ticks closer to midnight, guests are invited to the Promenade to witness the magnificent Emaar New Year’s Eve celebrations and Burj Khalifa’s show. The festivities extend into the night with DJ Slim’s captivating beats. Experience the magic at www.dubaiopera.com.

Elevate your NYE Experience at Sky Views
Soar above the rest this New Year’s Eve at Sky Views Observatory offering guests an unprecedented view of Burj Khalifa’s breath-taking fireworks and dazzling light show. Immerse yourself in the ultimate celebration and usher in 2024 surrounded by the awe-inspiring view of Dubai’s skyline. www.skyviewsdubai.com

An Emaar spokesperson commented, “Our vision for Emaar New Year’s Eve each year is not just to mirror previous celebrations but to redefine them. The introduction of the exclusive viewing experience at Burj Park encapsulates our commitment to creating unforgettable moments. And while the heart of our celebrations beats around the iconic Burj Khalifa, we’re delighted to extend diverse experiences – from Emaar Hospitality’s culinary delights in Downtown Dubai to unparalleled vistas at Sky Views and captivating shows at Dubai Opera. It’s more than a celebration; it’s Emaar’s testament to Dubai’s spirit of unity, grandeur, and forward-looking optimism.”

IMPORTANT: Ticket holders for the exclusive Emaar NYE at Burj Park viewing location are reminded to collect their badges from Dubai Mall, Dubai Hills Mall and Dubai Marina Mall on December 26 -30, 2023 from 2 pm to 10 pm.

*The badge is crucial for accessing the Burj Park area, ensuring a seamless experience for all.

For more details on the event and Burj Park ticketing information, visit www.mydubainewyear.emaar.com

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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 102,000 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with over 1,300,000 square meters of leasing revenue-generating assets and 38 hotels and resorts with over 9,600 rooms (includes owned as well as managed hotels). Today, 48 percent of Emaar’s revenue is from its shopping malls & retail, 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, Twitter: www.twitter.com/emaardubai, Instagram: www.instagram.com/emaardubai.

For more information:
Emaar Marketing Department
Email: PR@emaar.ae

United Arab Emirates, Dubai – July 18, 2023: Emaar Properties PJSC, Dubai’s premier real-estate developer, received credit rating upgrades from Fitch Ratings, Moody’s, and S&P Global, reflecting its strong financial performance and improved leverage ratios.

Fitch Ratings has upgraded Emaar Properties Long-Term Issuer Default Rating to ‘BBB’ from ‘BBB-, with a Stable Outlook. Moody’s has similarly upgraded Emaar Properties PJSC’s long-term issuer rating to Baa2 from Baa3 with a Stable Outlook. S&P Global has also upgraded Emaar Properties ‘BBB’ from ‘BBB-‘; the rating comes with a Stable Outlook, signalling confidence in Emaar’s financial stability and prospects.

The robust Q1 2023 results clearly echo these ratings upgrades. Emaar reported group property sales of AED 9.2 billion ($2.5 billion) in the first quarter, marking an 11% increase compared to Q1 2022. Emaar’s property sales backlog further rose to AED 55.7 billion (US$ 15.2 billion), providing healthy revenue pipeline. An additional highlight was the 11% rise in recurring revenue in Q1 2023, buoyed by increased tenant sales and a resurgence in tourism activity.

The stellar Q1 2023 performance resulted in a 26% increase in EBITDA and a 43% rise in net profit compared to Q1 2022 showcasing the company’s operational excellence and successful property sales performance. Adding to the highlights of the quarter, Emaar also declared and paid dividends of AED 2.2 billion, demonstrating its commitment to delivering shareholder value.

On the whole, these upgrades and the strong Q1 2023 results underscore Emaar Properties’ robust cash flow, lower leverage, and formidable operational performance across all business segments, indicating a strong outlook for the company’s future.

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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 94,000 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with over 1,300,000 square meters of leasing revenue-generating assets and 37 hotels and resorts with 8,134 rooms (includes owned as well as managed hotels). Today, 37 percent of Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

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, Twitter: www.twitter.com/emaardubai, Instagram: www.instagram.com/emaardubai.

For more information:

Emaar Marketing Department

Email: PR@emaar.ae

Dubai, United Arab Emirates – 14 June 2023: Emaar Properties celebrated the launch of The Oasis by Emaar, its latest waterfront luxury lifestyle destination, with a gala event held last night at the Armani Hotel in Burj Khalifa, Downtown Dubai.

The exclusive VIP event was attended by Emaar Properties customers and top properties agents. The evening’s highlight was the presence of the event’s guest of honour, international superstar Shahrukh Khan, who welcomed the ceremony’s guests and expressed his admiration for the new launch that joins the portfolio of renowned Emaar destinations, saying: “Whenever Emaar presents us with an urban marvel, it immediately follows it with another new destination that is a masterpiece in and of itself, such as The Oasis by Emaar, which we are celebrating tonight. This is not unusual for Dubai, a great metropolis that has become one of the world’s most famous, elegant, and advanced cities.”

Emaar Properties’ newest lifestyle destination, The Oasis by Emaar, is one of the largest and most prestigious developments in Dubai, covering a total land area of more than 100 million square feet (9.4 million square meters). With a total development value of USD 20 billion, the development boasts exceptional architectural design by the world’s most famous architects, with interiors created by prominent international designers. Adhering to Emaar’s commitment to delivering exceptional quality, The Oasis offers over 7,000 residential units focusing on large mansions and villas with spacious plots, providing residents with stunning views of water canals, lakes, and parks.

Aiming to provide a prestigious and upscale living experience in Dubai’s real estate landscape, the development is designed to create a resort-style lifestyle, with 25% of the land dedicated to lakes, water canals, parks, jogging tracks, green spaces, and various luxury amenities. This emphasis on recreational spaces allows residents to enjoy a high-quality living environment and engage in an active and healthy lifestyle.

The Oasis by Emaar is situated in a prime location within Dubai, surrounded by high-end developments. It offers proximity to four international golf courses, allowing residents to indulge in their passion for golf. The development is conveniently located just a 20-minute-drive from downtown Dubai, providing easy access to the city’s vibrant attractions.

The Oasis by Emaar will also feature an expansive 1.5 million square feet retail area, hosting a wide array of lifestyle brands and offering residents access to superior shopping options. Moreover, there will be a variety of food and beverage outlets, ensuring a diverse culinary scene to cater to different preferences.

Commenting on the new development, the founder of Emaar, Mohamed Alabbar, said, “In each of its destinations, Emaar strives to meet the needs of our discerning clientele. Our primary objective is to design one-of-a-kind destinations that complement our clients’ opulent way of life while providing unmatched comfort and luxury. Our most recent integrated project, The Oasis by Emaar, is poised to complement the urban landscape of Dubai and redefine the future of luxurious living amidst nature and water, blending harmonious architecture and exceptional amenities.”

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Note to Editors:

About Emaar Properties

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

Follow Emaar on: Facebook: www.facebook.com/emaardubai, Twitter: www.twitter.com/emaardubai, Instagram: www.instagram.com/emaardubai.

For more information:

Emaar Marketing Department

Email: PR@emaar.ae

• Emaar Development’s sales backlog has increased to AED 45.680 billion (US$ 12.437 billion), to be recognised as revenue in the coming years.

Dubai, United Arab Emirates- May 11, 2023: Emaar Development PJSC (DFM: EMAARDEV), the UAE build-to-sell property development business that is majority-owned by Emaar Properties PJSC (DFM: EMAAR), recorded robust property sales with a 26% increase to AED 8.603 billion (US$ 2.342 billion) in Q1 2023 compared to AED 6.843 billion (US$ 1.863 billion) in Q1 2022. This performance resulted from Emaar Development’s successful property launches, which created a good revenue pipeline for the future and marked steady progress towards the company’s strategic initiatives to further cement its position as a trusted developer.

Emaar Development successfully launched seven projects during the first quarter of 2023, Elora in The Valley, Elvira in Dubai Hills Estate, Palace Residence North, Cedar and Savanna in Dubai Creek Harbour, Anya and Anya 2 in Arabian Ranches III.

Performance Highlights

In the first quarter of 2023 (January to March), Emaar Development reported an EBITDA of AED 1.140 billion (US$ 310 million). It has achieved a net profit of AED 1.058 billion (US$ 288 million), in line with Q1 2022.

Emaar now has a sales backlog of AED 45.680 billion (US$ 12.437 billion), which will be recognised as revenue in the coming years due to robust performance.

Mohamed Alabbar, the founder of Emaar, said: “Emaar Development’s sales execution capabilities and improving operational efficiencies continue to drive good first-quarter financial results in 2023. Our backlog demonstrates a healthy market demand across our key markets, and we remain appropriately positioned to deliver constant growth and sustained value for our shareholders.”

Dubai continues to lead as a business hub for trade, financial services, logistics, travel, and hospitality, with growth in emerging sectors such as technology, renewable energy, healthcare, and education. As evidenced by Emaar Development’s sales growth in the first quarter of 2023, the region attracts a community of skilled professionals and a continued investment in the region’s consistent growth potential.

Delivery Updates

In the first quarter of 2023, Emaar Development delivered approximately 1,600 residential units in prime locations such as Dubai Hills Estate, Dubai Creek Harbour, Downtown Dubai, Emaar Beachfront, Arabian Ranches, and Emaar South. Emaar has delivered over 59,500 residential units as of March 2023, with over 28,500 residences currently under development in the UAE.

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Note to editors:
About Emaar Development PJSC:
Emaar Development is a developer of 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 etc. It has delivered over 59,500 residential units since 2002. The company has a sales backlog of over AED 45.680 billion. It is a high cash flow generating business, highlighting the company’s robust fundamentals with over 28,500 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:
Marketing Department – Emaar
PR@emaar.ae

Emaar’s property sales backlog reached AED 55.7 billion (US$ 15.2 billion), which will be recognised as revenue in the coming years.
Recurring revenue recorded an increase of 11% in Q1 2023, supported by an increase in tenant sales and a resurgence in tourism activity
Sale of Namshi to Noon valued at AED 1.2 billion (US$ 335 million) completed in Q1 2023

Dubai, United Arab Emirates – 11 May 2023: Emaar Properties PJSC (DFM: EMAAR) has announced robust Q1 2023 financial results attributed to good property sales performance and operational excellence across its businesses.

Key Accomplishment Highlights

Emaar reported revenue of AED 6.3 billion (US$ 1.7 billion) in the first quarter of 2023, supported by increased tourism, retail sales and demand for real estate projects in Dubai. Emaar recorded an EBITDA and net profit for the first quarter of 2023 of AED 4.0 billion (US$ 1.1 billion) and AED 3.2 billion (US$ 873 million), respectively, which is an increase of 26 per cent and 43 per cent, respectively, compared to the first quarter to 2022.

In the first quarter of 2023, Emaar’s group property sales reached AED 9.2 billion (US$ 2.5 billion), an 11 per cent increase compared to Q1 2022. Emaar’s revenue backlog from property sales increased to AED 55.7 billion (US$ 15.2 billion), which will be recognised as revenue in the coming years.

Mohamed Alabbar, Founder of Emaar, said: “Emaar’s financial performance during the first quarter demonstrates our capability to continually enhance our performance through effective management of its operational efficiencies. As a direct consequence of our enhanced capacity to scale our operations, we have seen both an increase in EBITDA and a widening of margins. Owing to Emaar’s unwavering commitment to innovation, talent and operational excellence, the company is in a position to increase sales, lift profitability, and drive customers happiness and shareholders value.”

UAE Build-To-Sell Property Development

Emaar Development PJSC (DFM: EMAARDEV), a majority-owned subsidiary of Emaar, has recorded property sales of AED 8.6 billion (US$ 2.3 billion) in the first quarter of 2023, a growth of 26 per cent compared to the first quarter of 2022. Emaar’s property development revenue in UAE amounted to AED 3.6 billion (US$ 970 million) in the first quarter of 2023. We successfully launched seven new projects in the UAE during Q1 2023.

Emaar International 

During the first quarter of 2023, international real estate operations of Emaar achieved property sales of AED 627 million (US$ 171 million) and generated revenue of AED 420 million (US$ 114 million), representing 7 per cent of Emaar’s overall revenue. The financial results of our international operations were primarily driven by the profitable operations in Egypt.   

Shopping Mall, Retail and Commercial Leasing

Shopping mall, retail and commercial leasing operations saw a 7 per cent increase in revenue for Q1 2023 compared to the same period in the prior year, reaching AED 1.4 billion (US$ 388 million). Emaar recorded an EBITDA of AED 1.7 billion (US$ 474 million) from its shopping mall, retail and commercial leasing portfolio in the first quarter of 2023, representing an increase of 114 per cent from the same period in 2022. This achievement is attributed to recognising the gain on sale of Namshi of AED 700 million (US$ 191 million) and improved operational profitability complimented by high levels of tenant sales which grew by around 30 per cent compared to Q1 2022. Prime mall assets managed by Emaar Malls Management have reported an occupancy rate of over 95 per cent.  

Hospitality, Leisure, and Entertainment

Emaar’s hospitality, leisure and entertainment businesses recorded a revenue of AED 884 million (US$ 241 million) in Q1 2023, reflecting a growth of 17 per cent compared to Q1 2022. This performance was the result of the continuing rebound in tourism and high domestic spending. The hotels in UAE under the Hospitality arm of Emaar, including managed hotels, achieved average occupancy of 75 per cent during the first quarter of 2023.  

Emaar’s diversified portfolio of recurring revenue-generating businesses, including malls, hospitality, leisure, entertainment, and leasing, collectively recorded AED 2.3 billion (US$ 629 million) in revenue during Q1 2023, representing an increase of 11 per cent compared to Q1 2022. Revenues from these businesses constitute 37% of Emaar’s overall revenue.

-ends-

Note to Editors:

About Emaar Properties

Follow Emaar on: Facebook: www.facebook.com/emaardubai, Twitter: www.twitter.com/emaardubai, Instagram: www.instagram.com/emaardubai.

For more information:

Emaar Marketing Department

Email: PR@emaar.ae

Dubai, United Arab Emirates – 18 April 2023: Today, on April 18, 2022, Emaar Development PJSC (DFM: EMAARDEV) held its Annual General Meeting (AGM) where the Board of Directors reported Emaar’s strong performance for 2022.

At the AGM, shareholders approved the Board of Directors’ proposal to distribute dividend of AED 2.081 billion (US$ 567 million) which equals to 52% of the share capital (~AED 0.52 fils per share), demonstrating Emaar’s commitment to maximising shareholder value. Further Board’s report on the company’s activities & financial position of the company and the Auditor’s report were also approved.

The Board of Directors also reaffirmed its commitment to delivering high-quality residences & communities to its customers and residents.

Emaar Development PJSC reported property sales of AED 30.713 billion (US$ 8.362 billion), an increase of 12% compared to 2021 resulted in healthy sales backlog of AED 41.344 billion (US$ 11.256 billion) which will be recognized as revenue in the coming years. In 2022, the Company reported revenue of AED 11.541 billion (US$ 3.142 billion) and net profit of AED 3.808 billion (US$ 1.037 billion) which reflects a 17% growth compared to 2021.

Over 6,100 residential units were delivered by Emaar Development in 2022 across prominent locations, including Dubai Hills Estate, Dubai Creek Harbour, Downtown Dubai, Emaar Beachfront, Arabian Ranches, and Emaar South. Emaar has delivered over 58,000 residential units in the UAE as of December 2022, with over 27,000 residences currently under development in the UAE.

Recognising Emaar Development’s resilient performance in the last fiscal year, Mohamed Alabbar, Founder, Emaar Properties, said: “Emaar Development’s success in 2022 reflects our improved operating posture and healthy demand for our offers which help us maximize performance and better manage risk. In 2023 we continue to focus on a robust line-up of property launches and new projects, we are well positioned to deliver sustained revenue growth and expanding margins. We attribute our growth and increased profitability year-over-year to the efforts of our shareholders, management, talented workforce, and brand name, which was built on the foundation of trust and quality.”

–Ends–

Note to editors:

About Emaar Development PJSC:

Emaar Development is a developer of 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 and Emaar South. It has delivered over 58,000 residential units since 2002. The company has a sales backlog of over AED 41.344 billion. It is a high cash flow generating business, highlighting the company’s robust fundamentals with over 27,000 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, please contact:

Alma Au Yeung

Emaar Corporate Marketing Department

Email: PR@emaar.ae

Dubai, United Arab Emirates; 17 April 2023: Today, 17 April 2023, Emaar Properties PJSC (DFM: EMAAR) held its Annual General Meeting (AGM) where the Board of Directors reported the company’s strong performance in 2022 and discussed the rigorous measures taken to ensure continued robust business performance throughout the year.

At the AGM, shareholders approved the Board of Directors’ proposal to distribute dividends equal to 25% of the share capital, demonstrating Emaar’s commitment to maximising shareholder value. Both the auditor’s report for the year 2022 and the board’s report on the company’s activities and financial position were approved at the meeting.

By prioritising the satisfaction of its customers and ensuring the continued development of its products and services, Emaar is able to increase the value it brings to its shareholders. This resulted in AED 35.1 billion (US$ 9.5 billion) in real estate sales for the company in 2022, a record high and a reflection of the confidence customers have in the Emaar name. In addition, Emaar reports a sizable sales backlog of over AED 53.2 billion (US$ 14.5 billion), which will be recognised as revenue over the next few years.

Emaar remains committed to delivering all ongoing projects by their respective deadlines. Investment in the company’s highly qualified workforce, digital systems, and supplementary resources will ensure the continuity of all operational efficiencies and help the business realise its long-term goals.

Mohamed Alabbar, Founder of Emaar Properties, said: “The Group sees 2023 as a promising year, and it is dedicated to improving its operations, increasing its Return on investment, and satisfying its clientele. The company plans to boost its efficiency, productivity, and performance to increase its turnover. Digital transformation, new product innovation, and market penetration will lay the groundwork for future growth and long-term shareholder value. Simultaneously, Emaar continues to make healthy investments in its workforce, attracting top global talent while enhancing opportunities to nurture UAE national talent and fostering more inclusive growth for our organisation and society.”

Emaar Properties PJSC’s net profit for the fiscal year ending December 31, 2022 was AED 6.8 billion (US$ 1.9 billion), and the company’s total revenue was AED 24.9 billion (US$ 6.8 billion). The results are indicative of the persevering interest of both domestic and international investors, with domestic and international sales exceeding their pre-pandemic levels.

Emaar consistently provides premium experiences and lifestyle opportunities across market segments, and its properties continue to be sought after by investors both domestically and internationally due to the company’s commitment to setting new standards in design, build quality, and innovation.

Visit emaar.com/en/investor-relations for more information.

–Ends–

Note to Editors:

About Emaar Properties

With a proven track-record in delivery, Emaar has delivered over 92,000 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with over 1,300,000 square meters of leasing revenue-generating assets and 37 hotels and resorts with 8,135 rooms (includes owned as well as managed hotels). Today, 53 percent of Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

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

Follow Emaar on: Facebook: www.facebook.com/emaardubai, Twitter: www.twitter.com/emaardubai, Instagram: www.instagram.com/emaardubai.

For more information, please contact:

Alma Au Yeung

Emaar Corporate Marketing Department

Email: PR@emaar.ae

• Property sales for Q4 2022 (October to December) have increased by 16% compared to Q4 2021.
• Emaar’s sales backlog has increased to AED 41.344 billion (US$ 11.256 billion), to be recognised as revenue in the coming years.

Dubai, United Arab Emirates – February 14, 2023: Emaar Development PJSC (DFM: EMAARDEV), the UAE build-to-sell property development business, majority-owned by Emaar Properties PJSC (DFM: EMAAR) recorded an increase of 12% in property sales to AED 30.713 billion (US$ 8.362 billion) compared to AED 27.440 billion (US$ 7.471 billion) in 2021. This performance was a result of Emaar’s successful launches of properties, creating a strong revenue pipeline for the future.

In 2022, Emaar Development successfully launched twenty eight projects in various master plans, such as Talia, Orania and Farm Gardens in The Valley, Elie Saab II, Bliss 2 and Raya in Arabian Ranches III, Rosewater, Lotus, Creek Palace, Orchid, Creek Crescent, Island Park and The Cove II in Dubai Creek Harbour, St. Regis and The Residence Burj Khalifa in Downtown Dubai, Address The Bay and Beachgate by Address in Emaar Beachfront, Greenview 3 and Fairway Villas in Emaar South, Park Field, Lime Garden, Hills Park, Park Horizon and Address Hillcrest in Dubai Hills Estate, Marina Shores in Dubai Marina, Golf Heights in Emirates Hills and Seagate & Seascape in Rashid Yachts & Marina.

Performance Highlights

In 2022, Emaar Development reported EBITDA of AED 4.224 billion (US$ 1.150 billion) and achieved 17% growth in net profit to AED 3.808 billion (US$ 1.037 billion) compared to 2021.

Emaar now has a sales backlog of AED 41.344 billion (US$ 11.256 billion), which will be recognised as revenue in the coming years as a result of robust performance.

“Emaar Development continued the trend of increase sales and profitability. Across the board in our portfolio of retail, hospitality and entertainment, we are seeing demand for the exceptional communities and amenities we deliver. Emaar is savvy to market trends and has a track record of producing high-quality developments, both of which inspire remarkable trust in the company among its customers. This, aligned with a strong ongoing project launch list has enabled Emaar to maintain an upward trajectory for sales and growth,” said Mohamed Alabbar, founder of Emaar.

Dubai continues to lead as a business hub for trade, financial services, logistics, travel, and hospitality, with emerging sectors, such as technology, renewable energy, healthcare, and education, experiencing growth. The region attracts a community of skilled professionals, and investors continue to invest in the region’s consistent growth potential, as evidenced by Emaar’s 2022 sales records.

Delivery update

Emaar Development has delivered over 6,100 residential units in 2022 across prime locations, including Dubai Hills Estate, Dubai Creek Harbour, Downtown Dubai, Emaar Beachfront, Arabian Ranches and Emaar South. As of December 2022, Emaar has delivered more than 58,000 residential units with over 27,000 residences currently under development in the UAE.

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Note to editors:

About Emaar Development PJSC:
Emaar Development is a developer of 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 and Emaar South. It has delivered over 58,000 residential units since 2002. The company has a sales backlog of over AED 41.344 billion. It is a high cash flow generating business, highlighting the company’s robust fundamentals with over 27,000 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, please contact:

Alma Au Yeung
Emaar Corporate Marketing Department

Email: PR@emaar.ae

• Emaar’s property sales backlog reached AED 53.2 billion (US$ 14.5 billion), which will be recognised as revenue in coming years
• Acquired Dubai Creek Harbour for a consideration of AED 7.5 billion (US$ 2 billion), offering future profit potential in a highly desirable area within Dubai
• Hospitality revenue grew by 25% compared to 2021 due to a strong rebound in tourism
• Malls revenue recorded an 8% increase in 2022 compared to 2021, with tenant sales surpassing pre-Covid levels

Dubai, United Arab Emirates – 14 February 2023: Emaar Properties PJSC (DFM: EMAAR) reported continued improvement in its property sales, growth in profitability and marked improvement in the performance of recurring revenue businesses in 2022.

Key Accomplishment Highlights
Emaar recognised revenue of AED 24.9 billion (US$ 6.8 billion) in 2022, supported by the continuous strengthening of the Dubai real estate market and growth achieved by the recurring revenue businesses due to the rebound of global tourism. EBITDA and net profit for 2022 increased by 18 per cent and 80 per cent, respectively, to AED 9.8 billion (US$ 2.7 billion) and AED 6.8 billion (US$ 1.9 billion) compared to 2021, as a result of sustained revenue, improved margins, and continued control over costs.

Emaar’s group property sales in 2022 reached AED 35.1 billion (US$ 9.5 billion), primarily driven by new project launches. Emaar’s backlog of property sales has reached AED 53.2 billion (US$ 14.5 billion), which will be recognised as revenue in the coming years.

In 2022, Emaar completed the acquisition of Dubai Creek Harbour for an overall consideration of AED 7.5 billion (US$ 2 billion).

Mohamed Alabbar, Founder of Emaar, said: “After a successful 2022, we are very pleased with our accomplishments. Improvements in consumer confidence and overall business activity, especially in the real estate market, have benefited all the company’s operations over the past year, thanks to the strategic measures taken over the past two years. Given these remarkable outcomes, we expect to see strong performance by our shopping centers, hotels, and property sales in 2023, as we continue to deliver cutting-edge projects and unparalleled offerings across all of our business units.”

Emaar’s enduring reputation for customer-centricity, superior design, construction quality, and innovation across all its market segments continues to appeal to both domestic and international investors.

Emaar Development
Emaar Development PJSC (DFM: EMAARDEV), the UAE build-to-sell property development business majority-owned by Emaar Properties, maintained strong property sales momentum in Dubai in 2022, recording AED 30.7 billion (US$ 8.4 billion) in property sales, a 12 per cent increase over 2021. Emaar Development reported AED 11.5 billion (US$3.1 billion) in revenue and AED 4.2 billion (US$ 1.2 billion) in EBITDA.

Emaar International
In 2022, Emaar’s international real estate operations recorded AED 4.3 billion (US$ 1.2 billion) in property sales and AED 4.2 billion (US$ 1.1 billion) in revenue, representing 17 per cent of Emaar’s total revenue. The performance of international operations was led by successful operations in Egypt and India.

Emaar Malls Management
Emaar Malls Management LLC, Emaar’s wholly owned shopping malls and retail division, saw an 8 per cent increase in revenue in 2022 compared to the previous year, reaching AED 5.4 billion (US$ 1.5 billion). Emaar Malls Management achieved an EBITDA of AED 3.1 billion (US$ 836 million) in 2022, an increase of 21 per cent from 2021, with tenant sales surpassing pre-Covid 19 levels. The occupancy rate of Dubai Mall, Emaar Malls Management’s prime asset, stood at 97 per cent.

The Dubai Hills Mall, which was unveiled on 17 February 2022 and boasts an impressive array of retail, dining, and entertainment concepts, has quickly become an iconic lifestyle destination. As of the end of 2022, 91 per cent of the Dubai Hills Mall was leased.

Hospitality, Leisure, and Entertainment
Emaar’s hospitality, leisure, entertainment, and commercial leasing businesses generated AED 3.4 billion (US$ 929 million) in revenue in 2022, an increase of 57 per cent compared to 2021. In 2022, Emaar’s hotels in the UAE achieved strong performance led by significant growth in ADRs and achieving average occupancy rates of 69 per cent, driven by a rebound in global tourism and supported by global events like Expo 2020 and FIFA World Cup.

Emaar’s recurring revenue-generating businesses of malls, hospitality, leisure, entertainment, and commercial leasing collectively generated AED 8.8 billion (US$ 2.4 billion) in revenue in 2022, a 23 per cent increase over the previous year. These businesses represent 36 per cent of Emaar’s total revenue.

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Note to Editors:

About Emaar Properties

Follow Emaar on: Facebook: www.facebook.com/emaardubai, Twitter: www.twitter.com/emaardubai, Instagram: www.instagram.com/emaardubai.

For more information, please contact:

Alma Au Yeung
Emaar Corporate Marketing Department

Email: PR@emaar.ae

• Property sales for Q3 2022 (July to September) have increased by 12% compared to Q3 2021.
• Emaar’s sales backlog has increased to AED 37.186 billion (US$ 10.124 billion), to be recognised as revenue in the coming years.

Dubai, United Arab Emirates; November 14, 2022: Emaar Development PJSC (DFM: EMAARDEV), the UAE build-to-sell property development business, majority-owned by Emaar Properties PJSC (DFM: EMAAR), achieved its highest-ever property sales during the first nine months (January to September) of 2022, maintaining record-breaking momentum built in the first half of the year. Property sales for the first nine months of 2022 is increased by 11% to AED 23.167 billion (US$ 6.307 billion) compared to AED 20.943 billion (US$ 5.702 billion) in the first nine months of 2021 and property sales for Q3 2022 (July to September) increased by 12% to AED 7.951 billion (US$ 2.165 billion) compared to Q3 2021.

During the first nine months of 2022, Emaar Development successfully launched twenty projects in various master plans, such as Talia and Orania in The Valley, Elie Saab II and Bliss 2 in Arabian Ranches III, Rosewater, Lotus, Creek Palace, Orchid, Creek Crescent and Island Park in Dubai Creek Harbour, St. Regis in Downtown Dubai, Address The Bay and Beachgate by Address in Emaar Beachfront, Greenview 3 in Emaar South, Park Field, Lime Garden, Hills Park and Address Hillcrest in Dubai Hills Estate and Seagate in Rashid Yachts & Marina.

Performance Highlights

In the first nine months of 2022 (January to September), Emaar Development reported EBITDA in line with last year and achieved 19% growth in net profit compared to the first nine months of 2021.

Due to this exceptional performance, Emaar now has a robust sales backlog of AED 37.186 billion (US$ 10.124 billion), which will be recognised as revenue in the coming years.

“Following a record-breaking first half of 2022, we have maintained momentum and growth by delivering another excellent set of sales figures in Q3. Across the board in our portfolio of retail, hospitality and entertainment, we are seeing demand for the exceptional communities and amenities we deliver. Strategically, Emaar is attuned to the market and has a reputation for delivering developments of excellent standards which generates exceptional consumer confidence. This, aligned with a strong ongoing project launch list has enabled Emaar to maintain an upward trajectory for sales and growth,” an Emaar spokesperson said.

Dubai continues to lead the way as a business hub for trade, financial services, logistics, travel and hospitality, with emerging sectors witnessing growth, such as technology, green energy, healthcare and education. The region attracts a community of skilled professionals, and investors continue to invest in the region’s steadfast growth potential, reflective of Emaar’s sales records for Q3 2022.

Delivery update

Emaar Development has delivered over 4,700 residential units during the first nine months of 2022 across prime locations, including Dubai Hills Estate, Dubai Creek Harbour, Downtown Dubai, Emaar Beachfront, Arabian Ranches and Emaar South. As of September 2022, Emaar has delivered more than 56,700 residential units, with over 26,200 residences currently under development in the UAE.

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Note to editors:

About Emaar Development PJSC:
Emaar Development is a developer of 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 and Emaar South. It has delivered over 56,700 residential units since 2002. The company has a sales backlog of over AED 37.186 billion. It is a high cash flow generating business, highlighting the company’s robust fundamentals with over 26,200 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:
Hiba Eid
PR Manager
Email: hibaeid@sevenmedia.ae
Phone Number: +971 50 50 95306

Address Residences Zabeel

Address Al Marjan Island, Ras Al Khaimah

Downtown Dubai

The Oasis

Emaar South

Emaar Beachfront

Dubai Hills Estate

Arabian Ranches

Arabian Ranches III

Dubai Creek Harbour

Dubai Marina

The Valley

Rashid Yachts & Marina

Tag: Press Release