Emaar Properties delivers strong H1 performance ...United Arab Emirates

ME CONSTRUCTION NEWS - Local News
Emaar Properties delivers strong H1 performance
source : ME CONSTRUCTION NEWS ( United Arab Emirates ) () 37
Emaar Properties has announced first half (H1) 2023 revenues of US $3.3bn, with net profit growing by 15% compared to the same period last year, reaching $1.3bn. The Dubai-based group added that the H1 results showcase consistent performance and operational efficiency across its various businesses. Emaar’s consistent performance was driven by the growth in tourism, retail sales, and sustained real estate demand in Dubai. Meanwhile, a focus on improving profit margins and operational efficiencies resulted in achieving higher EBITDA, which grew by 5% to $1.7bn compared to H1 2022. Emaar achieved H1 2023 group property sales of $5.5bn, a 14% YoY growth. Supported by incremental property sales,

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