Home Real Estate Emaar Development records 51% growth in sales

Emaar Development records 51% growth in sales

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Emaar Development PJSC stated on Monday that their overall number of sales for the first quarter of 2019 has enlarged by 51 percent to Dh5.902 billion, measured up with Q1 2018 sales of Dh3.908 billion.

The corporation develops housing and commercial property, shopping malls and other retail assets and as well as hospitality and leisure spots.

They have launched eight latest projects all through first quarter of 2019 with a sum project value of Dh4.362 billion (US$1.188 billion).

In a statement, the business stated that there was a major and continual interest from investors and end users, regionally and internationally, directed by the UAE residents and investors from Saudi Arabia, China, United Kingdom and India, with investments by some of Emaar’s customers doubling in Q1 2019.

There was a noteworthy expansion in sales to investors from Egypt and Pakistan. Sales to non-UAE resident’s stand for over 45 percent of whole sales recorded stressing the considerable interest of international investors in Dubai real estate and the power of Emaar brand.

The Development stated a net profit of AED 751 million (US$ 204 million) and proceeds of AED 3.341 billion (US$ 910 million) for the first quarter of 2019.

Emaar Development’s overall sales accumulation augmented to AED 37.729 billion (US$ 10.272 billion).

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