Emaar Development

Emaar Development PJSC (DFM: EMAARDEV), the UAE build-to-sell property development business, majority-owned by Emaar Properties PJSC (DFM: EMAAR), delivered impressive 2019 year-end results amidst a challenging business environment. The company reported property sales of AED 14.842 billion (US$ 4.041 billion) for 2019. The company recorded net profit of AED 2.700 billion (US$ 735 million) with a revenue of AED 12.746 billion (US$ 3.470 billion) for 2019. Emaar Development launched 22 new residential developments in 2019 across various master plans in Dubai of which 70 per cent were sold resulting in ...