Data News > Emaar Properties Reports Outstanding Performance in First Quarter of 2024
Emaar Properties Reports Outstanding Performance in First Quarter of 2024
By KlickAnalytics Data Insights | July 11, 2024 09:00AM ET
- Emaar Development achieves 30% growth in sales volumes with successful project launches
- Emaar Malls records 8% increase in footfall, maintains position as world's most visited retail destination
Emaar Properties has announced a strong performance in the first quarter of 2024, showcasing operational efficiency and growth across its various businesses. Emaar Development notably achieved a 30% growth in sales volumes, driven by the successful completion of 30 project launches during the period. Projects like Address Residences Zabeel and Palace Residences Dubai Hills Estate sold out 2500 units each within seven days of opening for sale, contributing to a total unit sales growth of 8,400 units in Q1-24, a 56% increase from the same period last year.
The company also focused on operational excellence, awarding 50 new contracts worth AED 8.70 billion and conducting over 2331 fire safety training sessions. Emaar Malls continued to excel as the world's most visited retail and entertainment destination, with Dubai Mall attracting 105 million visitors and experiencing an 8% increase in footfall. Additionally, Dubai Opera set new attendance records with 250,000 spectators at cultural events.
Internationally, Emaar witnessed successful project launches, including the complete sell-out of the luxury residences project Urban Oasis in Gurgaon, India, and making progress on projects in Karachi, Pakistan. Looking ahead, Emaar reaffirmed its commitment to quality, innovation, and sustainability across its real estate and hospitality portfolio. Founder Mohamed Alabbar expressed pride in the company's performance, emphasizing their dedication to shaping legacies and transforming communities for a prosperous future.
In the first quarter of 2024, Emaar Properties reported revenues of AED 6.70 billion ($1.80 billion), reflecting the company's continued success and growth in the real estate sector.
- Emaar Malls records 8% increase in footfall, maintains position as world's most visited retail destination
Emaar Properties has announced a strong performance in the first quarter of 2024, showcasing operational efficiency and growth across its various businesses. Emaar Development notably achieved a 30% growth in sales volumes, driven by the successful completion of 30 project launches during the period. Projects like Address Residences Zabeel and Palace Residences Dubai Hills Estate sold out 2500 units each within seven days of opening for sale, contributing to a total unit sales growth of 8,400 units in Q1-24, a 56% increase from the same period last year.
The company also focused on operational excellence, awarding 50 new contracts worth AED 8.70 billion and conducting over 2331 fire safety training sessions. Emaar Malls continued to excel as the world's most visited retail and entertainment destination, with Dubai Mall attracting 105 million visitors and experiencing an 8% increase in footfall. Additionally, Dubai Opera set new attendance records with 250,000 spectators at cultural events.
Internationally, Emaar witnessed successful project launches, including the complete sell-out of the luxury residences project Urban Oasis in Gurgaon, India, and making progress on projects in Karachi, Pakistan. Looking ahead, Emaar reaffirmed its commitment to quality, innovation, and sustainability across its real estate and hospitality portfolio. Founder Mohamed Alabbar expressed pride in the company's performance, emphasizing their dedication to shaping legacies and transforming communities for a prosperous future.
In the first quarter of 2024, Emaar Properties reported revenues of AED 6.70 billion ($1.80 billion), reflecting the company's continued success and growth in the real estate sector.
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