Emaar Development, a Dubai-listed property developer, today announced its financial results for the nine-month period ended September 30, 2019, and recorded a 25% growth in sales to AED 12.525 billion (3.410 billion). Compared to the same period in 2018.

Comparing profit growth in the first nine months of 2019 and the same period in 2018, the company made a net profit of AED 2.070 billion (US $ 564 million) with revenues of AED 9.625 billion (US $ 2.620 billion) during the first nine months of 2019 .

With the launch of 19 new residential projects in 2019 with a total value of AED 10.127 billion (US $ 2.757 billion), sales of projects for sale reached AED 36.098 billion (US $ 9.828 billion), demonstrating strong financial fundamentals. The positive results of the revenues will be achieved by the company and will be calculated in the next three to four years.

Mohammed Alabbar, Chairman of Emaar Properties and Emaar Development, said: “Over the past years, Emaar has launched a number of distinctive and promising real estate projects with a unique lifestyle experience for residents, which has contributed to Dubai's position as a leading global destination for real estate investments. The company aims to provide the best customer service, the highest quality standards in construction, employment and modern technology and to develop the best strategy for future growth. G sense of health and well-being and quality of life. "

Emaar Development sees 2019 as the year of transformation, especially with the high demand for residential units that offer residents a choice of service facilities that offer a healthy and upscale experience in a relaxed atmosphere.

During the third quarter, Emaar Development entered into a partnership agreement in the flagship real estate project The Valley, a AED 25 billion (US $ 7 billion) project located on the Dubai-Al Ain Road that is expanding the Dubai map and is characterized by its urban and contemporary design style. To the highest standards of future housing, with world-class service facilities.

Diverse projects and attractive destinations

In 2019, Emaar Development launched South Beach's first-of-its-kind residential project in the short-term vacation home overlooking the waterfront and the Grand Blue Tower designed by international designer Elie Saab at Emaar Beachfront. South Beach is the first project of Ease by Emaar to offer investors the opportunity to manage their Emaar properties, meet the market need for short-term lease options and benefit from a new business model that ensures high return on investment. .

The company recently inaugurated several exceptional residential destinations in Dubai this year, including Shams, Joy and Rabie in Phase 3 of Arabian Ranches, Bay Shore, Palace, Summer and Creek. Edge and Surf in its mega project in the 6-square-kilometer Dubai Creek area known as Tomorrow's World, as well as Executive Residences, Golf Grove, Golf Full and Emerald Hills at Dubai Hills Estate, Expo Golf Villas, Parkside and Green View in Emaar South's flagship project, just 10 minutes from Dubai Expo 2020 site and seven minutes from Al Maktoum International Airport. P "Srdana" in Port Rashid, which is the new global destination for lovers of sailing in the Dubai Creek area near the historic Bur Dubai / Deira.

Emaar Development has delivered 4,700 residential units so far in 2019 on key projects such as Dubai Hills Estate, Emaar South, Dubai Creek and Downtown Dubai.

Emaar has a large international investor base of more than 200 nationalities and is ranked 14th among the strongest real estate companies in 2019, with an estimated brand value of over $ 2.7 billion.