Dubai: Emaar Properties on this Sunday provided a net profit of Dh2.61 billion for 2020 with a whole income of Dh19.71 billion.
The company registered total property deals of Dh10.9 billion of which Dh6.32 billion was from the UAE.
“The performance shows sustained interest from investors, both domestic and foreign,” the company said in a statement.
“Our performance in 2020 is a direct result of our ability to move quickly, adapt to new business conditions and utilize our existing resources to access new opportunities. We continue to embrace technology to help grow our business, while at the same time closely adhere to the cost discipline that helps us achieve better results in each quarter,” said Mohamed Alabbar, founder of Emaar.
Emaar has a whole transaction backlog of Dh36.67 billion of which Dh24/74 billion is in the UAE to be registered as revenue in the future.
“Looking ahead to 2021, we see a world of opportunities – both traditional and tech-driven – that will help us grow in ways and in markets that didn’t exist five or ten years ago,” said Alabbar.
Emaar Development, the company’s build-to-sell construction business in the Uae, registered a total gain of Dh1.65 billion and an income of 9.75 billion. The company is recently developing over 26,000 residences in the UAE, with 12,000 units all over the international markets.