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.”
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.
