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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 also approved at the meeting.
By prioritising customer satisfaction and continuously developing its products and services, Emaar continues to increase the value it delivers to shareholders. This resulted in AED 35.1 billion (US$ 9.5 billion) in real estate sales in 2022, a record high and a reflection of strong customer confidence in the Emaar brand. Additionally, Emaar reported a sizable sales backlog of over AED 53.2 billion (US$ 14.5 billion), which will be recognised as revenue over the coming years.
Emaar remains committed to delivering all ongoing projects within their respective timelines. Continued investment in the company’s highly qualified workforce, digital systems, and supporting resources will ensure operational efficiency and support long-term business goals.
Mohamed Alabbar, Founder of Emaar Properties, said:
"The Group sees 2023 as a promising year and remains committed to improving operations, increasing return on investment, and enhancing customer satisfaction. The company plans to boost efficiency, productivity, and performance to grow its turnover. Digital transformation, new product innovation, and market expansion will lay the foundation for future growth and long-term shareholder value. At the same time, Emaar continues to invest in its workforce, attracting top global talent while nurturing UAE national talent and fostering inclusive growth for our organisation and society."
Emaar Properties PJSC reported a net profit of AED 6.8 billion (US$ 1.9 billion) for the fiscal year ending 31 December 2022, with total revenue reaching AED 24.9 billion (US$ 6.8 billion). These results reflect sustained interest from both domestic and international investors, with sales exceeding pre-pandemic levels.
Emaar continues to deliver premium experiences and lifestyle offerings across diverse market segments. Its properties remain highly sought after by investors locally and globally, driven by the company’s commitment to excellence in design, build quality, and innovation.
Visit www.emaar.com/en/investor-relations for more information.