DUBAI, UAE – Emaar Properties on Monday announced that it has recorded a revenue of US$ 5.1billion in the January-September 2022 period supported by robust property sales and growth in the recurring revenue businesses.
In a statement, Emaar said that EBITDA and net profit in 9M 2022 increased by 47 percent and 124 percent to US$ 2.3 billion (AED 8.4 billion) and US$ 1.6billion (AED 5.8billion) respectively as compared to the same period last year due to sustained revenue, improved margins and greater control on costs.
Emaar has successfully launched many projects both in the UAE and international markets.
Led by new project launches and continued focus on sale of units in under-construction projects, Emaar has recorded highest ever group property sales of US$ 7.3 billion (AED 26.9 billion) during 9M 2022.
Property sales backlog of Emaar reached to US$ 14.1 billion (AED 51.9 billion) which will be recognized as revenue in the coming years.