Emaar’s Backlog Of Domestic Sales Is Currently Dh32.75 Billion.
Emaar Development, which concentrates on Dubai, sold Dh15.21 billion worth of real estate in the first half of 2022. A 10 percent rise from the same period in the previous year. The Emaar data support Dubai’s record-breaking real estate sales over the past 18 months. Emaar Development generated revenues of Dh7.28 billion and an EBITDA of Dh2.56 billion, a growth of 15%. Emaar now has a sizable Dh32.75 billion sales backlog that will be recognized as future revenue for the company.
According to a representative for Emaar, “Cash flow generation, a robust pipeline of future projects. Our steadfast commitment to delivering quality projects to market have highlighted our greatest ever quarterly sales for Q2-2022.”
“Our point of distinction is our strategy of developing integrated communities, providing facilities across retail, hospitality, & entertainment. To further complement our outstanding residential assets,” the company said. We are still seeing investor demand for comprehensive master-planned complexes. Which has allowed us to experience the best first-half growth in 2022.
Emaar Development delivered 3,100 residential units in the first half of the year, including projects at Dubai Hills Estate. Which is drawing a lot of investor interest, Dubai Creek Harbour, Emaar Beachfront, Arabian Ranches, Downtown Dubai, and Emaar South. Emaar has produced over 55,100 residential units since 2002. While another over, 26,100 are now being built in the United Arab Emirates.
Emaar Properties’ Pulsing Gains
In the meantime, the parent company Emaar Properties reported first-half earnings of Dh13.57 billion, an increase of 10% compared to the same period last year. Because of “greater revenue with increasing margins and continuous cost optimization,” the H1-2022 EBITDA increased by an impressive 66 % to Dh6.11 billion.
The final total was influenced by Emaar’s successful property launches in the UAE and other markets. Emaar had a rise in EBITDA of 53% to Dh2.93 billion during the second half of 2022 compared to Dh1.92 billion. Revenue for the second quarter of 2022 totaled Dh6.94 billion, a rise of 8%.