Dubai real estate firm Emaar Development committed on thursday that it will carry on to progress at speed to provide key projects in spite of the challenges posed by the coronavirus pandemic.
The secondary of Dubai’s largest listed developer Emaar Properties is anticipated to provide more than 6,000 residential units this year over its masterplans, containing Dubai Creek Harbour, Downtown Dubai, Arabian Ranches, and Emaar South.
“We are optimistic that 2021 will see market conditions continue to gradually improve, and Emaar Development is dedicated to driving its key projects at optimal speed,” said Mohamed Alabbar, founder of Emaar Properties.
The statements come after Emaar Development held its yearly general meeting on Thursday. The company registered deals of 6.308 billion dirhams ($1.717 billion) and a total profit of 1.657 billion dirhams for 2020.
COVID-19 impact
The COVID-19 pandemic has disturbed the development industry around the world, leaving some developers to stop work on some progressing advancements and drop new task launches.
A year ago, Emaar Development delivered around 4,800 residential units across prime locations. As of December 2020, Emaar has conveyed more than 47,000 residential units, with in excess of 26,000 residences presently being worked on in the UAE.
“Emaar Development remains committed to its projects’ delivery timeframes and we are working diligently to continue to go above and beyond expectations,” Alabbar said.
The company develops residential and commercial work to sell resources across the UAE. Its portfolio incorporates freehold master-planned networks like Emirates Living, Downtown Dubai, Dubai Marina, and Arabian Ranches.