Built to inform

Sign up for the daily newsletters

No, Thank you

Dubai's 'future-ready' Emaar issues dividend after $2.5bn profit in 2018

Chairman Mohamed Alabbar says 'digital-first' organisation distributed $5.3-billion in dividends between 2011 and 2018

Mohamed Alabbar says Dubai's Emaar is ready for the future.
© ITP MEdia Group
Mohamed Alabbar says Dubai's Emaar is ready for the future.

Dubai Financial Market-listed (DFM) real estate developer Emaar Properties has approved a 15% dividend, worth $290m (AED1.1bn), after noting a 39% surge in its 2018 profits.

In a stock market missive, the company revealed details of its 23rd Annual General Meeting, during which the dividend was approved. Around 7.2 billion Emaar shares are traded on DFM.

Referring to the company as a "future-ready" and "digital-first" organisation, Mohamed Alabbar, chairman of Emaar Properties, said: “Since our inception, we have continuously focused on redefining the property, retail, and hospitality landscape of Dubai, and distributed $5.3bn (AED19.4bn) in cumulative dividends between 2011 to 2018.”

Despite challenging market conditions, Emaar reported a net profit of $2.5bn (AED9bn) in 2018, higher than corresponding figures of $1.8bn (AED6.5bn) in 2017, according to its annual report for last year.

Prior to its floatation of an initial public offering for Emaar Development, the developer's net profit amounted to $2bn (AED7.2bn) in 2018, a 30% surge compared to $1.5bn (AED5.5bn) in the previous year. 

Most popular

Awards

Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 764
May 31, 2020