Emaar Development PJSC, a leading property developer in the UAE specializing in build-to-sell property development and a subsidiary of Emaar Properties PJSC, experienced a significant 74 percent rise in annual profits to reach US$1.8 billion (Dh6.6 billion) in 2023. The company achieved property sales totaling US$10.2 billion (Dh37.4 billion), marking a 22 percent increase over the previous year. Additionally, Emaar Development saw an 89 percent increase in Earnings Before Interest, Taxation, Debt, and Amortization (EBITDA) to US$2.2 billion (Dh8 billion). With a sales backlog of US$15.5 billion (Dh57.1 billion), the company anticipates recognizing this revenue in the forthcoming years.
