Emaar Development, the build-to-sell property development business majority-owned by Emaar Properties, achieved strong performance during the first nine months (January to September) of 2021, with a strong contribution by exceptional inventory sales, and reinforced by recent successful launches creating value for the future. The developer reported its highest ever property sales of AED 20.943 billion (US$ 5.702 billion) in the first nine months of 2021, an increase of 382 per cent compared to the first nine months of 2020.
During the first nine months of 2021, Emaar Development successfully launched Golf Place Terraces, Palm Hills with Elie Saab and Majestic Vistas inspired by Automobili Lamborghini in Dubai Hills Estate, Palace Beach Residence and Beach Mansion in Emaar Beachfront, Caya and Bliss in Arabian Ranches III, and Nara in The Valley.
In the first nine months of 2021 (January to September), Emaar Development reported a net profit of AED 2.384 billion (US$ 649 million) and revenue of AED 11.604 billion (US$ 3.159 billion), an increase of 75 per cent and 63 per cent compared to the first nine months of 2020, respectively.
Emaar now has a sales backlog of AED 28.471 billion (US$ 7.751 billion), which will be recognised in the future as revenue for the business.
Emaar Development has delivered over 3,700 residential units during the first nine months of 2021 across prime locations, including Dubai Hills Estate, Dubai Creek Harbour, Downtown Dubai, Dubai Marina and Emaar South. As of September 2021, Emaar has delivered more than 51,000 residential units, with over 25,000 residences currently under development in the UAE.
