Real estate sales reached 5.12 billion dirhams
Emaar Properties records 2 billion dirhams profits during the first half
Emaar Properties achieved a flexible performance during the first half of the year 2020 by recording revenues of approximately 9 billion dirhams from all of its assets and net profits of approximately two billion dirhams, while the value of real estate sales of the group amounted to 5.12 billion dirhams during the same period, according to the results Company finances announced today.
Mohamed Alabbar, founder of Emaar Real Estate, said in a statement that the results achieved during the first half confirmed our ability to maintain our strength, deal with various circumstances and respond to them quickly and flexibly, which is what we have shown in our dealing with the current circumstances.
He added, "We have implemented many strategies that have demonstrated the flexibility of our activities and enabled us to achieve this strong performance, which included expanding the geographical scope of our business."
Emaar Properties confirmed that Emaar Development achieved revenues of 4818 million dirhams and a net profit of 1036 million dirhams during the first half of 2020.
Emaar Development stressed its commitment to deliver all its projects according to the specified timelines. By June 2020, the company delivered more than 64,700 housing units in Dubai and other global markets with more than 43,500 units delivered in the UAE.
The company is currently completing more than 29,000 units in the United Arab Emirates, in addition to 11,000 units in its projects under development in international markets.
The total amounts received for projects in progress reached 41753 million dirhams, including 29569 million dirhams in the United Arab Emirates, and their revenues will be calculated during the coming years.