Profit growth increased by 66%

Emaar records semi-annual sales of 17.6 billion dirhams

The company's sales increased by 5% during the first half of 2022. From the source

Emaar Properties recorded strong revenues during the first half of this year amounting to 13.575 billion dirhams, a growth of 10% compared to the same period last year, while it achieved profits before taxes, interest and depreciation of 6.112 billion dirhams, an increase of 66% compared to the first half of the year. 2021, thanks to increased revenue with improved profit margins and continued cost optimization.

The company said in a statement yesterday that it had succeeded in achieving record real estate sales in the first half of 2022, amounting to 17.672 billion dirhams, an increase of 5% compared to sales for the same period in 2021, amounting to 16.842 billion dirhams.

During the second quarter of 2022, Emaar recorded an increase in EBITDA by 53%, reaching 2,932 billion dirhams, compared to 1,922 billion dirhams in the same period last year.

Revenues in the second quarter of this year amounted to 6.94 billion dirhams, an increase of 8% compared to the revenues of the second quarter of 2021, which amounted to 6.439 billion dirhams. Which is accounted for as future revenue.

Emaar's international real estate operations recorded real estate sales of 2.428 billion dirhams in the first half of this year, and contributed revenues of 2.068 billion dirhams, which represents 15% of Emaar's total revenues, thanks to successful operations in Egypt and India.

Emaar Malls Management Company also recorded a 30% growth in revenues for the first half of 2022, compared to the same period last year, where it achieved 2.661 billion dirhams.

It also achieved EBITDA in the first half of 1,644 million dirhams, an increase of 66% compared to the first half of 2021.

Meanwhile, the hospitality, leisure, entertainment and commercial leasing business of Emaar recorded revenues of 1.564 million dirhams, during the first half of this year, achieving a growth of more than 93% compared to the first half of 2021.

Emaar Development

Emaar Development Company, majority owned by Emaar Properties, maintained its strong momentum in real estate sales in Dubai during the first half of this year, which amounted to 15.216 billion dirhams, an increase of 10% over the same period in 2021.

Emaar Development recorded revenues in the first half of 2022 amounting to 7.282 billion dirhams, and achieved a growth in profits before taxes, interest and depreciation by 15%, reaching 2.564 billion dirhams.

• 10% increase in the company's revenues to 13.575 billion dirhams during the first half.

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