Emaar Properties, Dubai’s leading developer, has just announced strong half-year performances and milestones for the first half of 2024, driven by outstanding growth across various businesses.
PC: Emaar Properties PJSC
Real Estate Development Achievements
Emaar Development performed well in launching 30 projects, with the sale of around 8,400 residential units and an outstanding growth of 56 percent netting in. Some of the noteworthy projects undertaken in this regard are Address Residences Zabeel and Palace Residences Dubai Hills Estate; both recorded exemplary sales of over 2,500 units within one week.
Strategic Partnerships and Training Initiatives
It further entrenched its market position by registering 995 agencies and training 5,945 agents through the Emaar Academy. These were some of the key drivers behind such aggressive sales in Dubai’s highly competitive real estate market.
Infrastructure and Construction Contracts
Awarded 50 construction contracts worth AED 8.7 billion ($2.36 billion) and, consequently, acted within its mandate of infrastructure development and diversification of its portfolio.
Sustainability Initiatives
Getting the LEED Platinum certification for sustainable construction for Burj Khalifa was further marked by a new benchmark in the green building standards set by it.
Retail and Entertainment Success
Emaar malls, anchored by the iconic Dubai Mall, continued to be the most visited destination globally, as footfalls rose by 8% during H1 2024. Other improvements like revamped parking facilities and world-class restroom designs contributed toward value addition for the visiting experience.
Entertainments & Cultural Milestones
The Emaar Entertainment and Dubai Opera broke records in heights as Dubai Opera gathered 250,000 visitors for various kinds of performances. The Marassi Aquarium & Underwater Zoo in Bahrain and first IMAX with Laser at Reel Cinemas in Bahrain emphasised Emaar’s dedication to providing ultimate entertainment.
Operational Excellence & Community Initiatives
Operational excellence remained the focus for Emaar, with extensive fire safety and emergency preparedness training sessions. Due to proactive efforts by the Emaar Community Management, timely support and recovery were ensured in case of affectation due to adverse weather conditions in April, with more than 4,500 homes given free repairs.
International Expansion and Hospitality Accolades
Internationally, Emaar took giant leaps with the fully sold-out Urban Oasis in Gurgaon and combined, later with major projects in hand at Panorama and The Views in Karachi. Emaar Hospitality under the group garnered further respect from Forbes Travel Guide 5-Star Ratings for Address Istanbul, Address Beach Resort, and the Armani Hotel Dubai—exhibiting a testimony for the group towards excellence in hospitality experiences.
Future Outlook and Commitment
Looking ahead, the foremost issues on its agenda—apart from its innovative approach to business, focusing on qualitative products and customer satisfaction—are things to which Emaar remains committed. Founder Mohamed Alabbar reiterated the vision of the group to create an enduring legacy of excellence in each community it serves, guaranteeing continued success and growth across its diversified portfolio.
Emaar Properties has shown outstanding performance in H1 2024 in being a company at the lead of real estate development and hospitality, powered by innovation, sustainability, and the creation of extraordinary experiences. Continuing on the path of domestic and foreign expansion, Emaar reiterates its commitment to making flourishing communities and new standards in the international real estate arena.
