Emaar Properties has said that it would double dividend payouts in 2024 when compared to the previous year.
The Dubai-listed property developer will disburse AED 8.8 billion (US$ 2.4 billion), or 100 percent of its share capital, up from AED 4.4 billion (US$ 1.2 billion) in 2023, according to a press release.
“At Emaar, our priority has always been to create exceptional value for our shareholders, and this year’s 100 percent dividend distribution is a clear reflection of that commitment,” Mohamed Alabbar, the company founder, said.
“We’re thrilled to see our early investors realise returns that have multiplied four times.”
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Recall that in November, Emaar reported a 30 percent jump in revenues year-on-year for the first three quarters of 2024, for a total of AED23.8 billion ($6.5 billion).
A 60 percent increase in real estate sales to AED50 billion from January to September drove much of that growth, the company said.
Its majority-owned subsidiary Emaar Development launched 50 projects in the first nine months of the year and sold a record AED48 billion worth of units.
Sales in Egypt, India and other countries amounted to another AED1.9 billion, generating AED1.6 billion in revenue.
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