According to the disclosures announced on the websites of the Abu Dhabi and Dubai markets, the net profits of the listed real estate companies increased by 92 percent to reach 11.5 billion dirhams (equivalent to $3.13 billion) in 2022, compared to about 6 billion dirhams in 2021, an increase equivalent to 5.5 billion dirhams.
The revenues of real estate companies increased by 2 percent to reach about 58 billion dirhams (about 15.8 billion dollars) in 2022, compared to about 56 billion and 572 million dirhams in 2021, an increase equivalent to 1.11 billion dirhams.
While assets, “assets”, increased by 11.5 percent, from 204.9 billion dirhams in 2021, to 228.5 billion dirhams in 2022, an increase equivalent to 23.6 billion dirhams, according to the Emirates News Agency.
Construction
And Emaar Properties came to the fore after recording strong revenues of 24.9 billion dirhams last year, while achieving net profits of about 6.8 billion dirhams, an increase of 80 percent compared to 2021, thanks to sustainable revenues with improved profit margins and continued control of expenses in addition to project performance. Which depend on recurring revenue and the recovery of global tourism.
The group’s real estate sales recorded about 35.1 billion dirhams, thanks to the launch of a number of new projects, and the cumulative sales volume of real estate projects under completion amounted to about 53.2 billion dirhams, whose revenues will be calculated in the coming years.
Emaar Development, which is majority owned by Emaar Properties, maintained its strong momentum last year and recorded real estate sales of 30.7 billion dirhams, up 12 percent. It also recorded revenues of 11.5 billion dirhams and achieved EBITDA of 4.2 billion dirhams.
Aldar Real Estate
Aldar Properties recorded record profits last year amid strong operating performance and huge capital investments, as its net profit increased year-on-year by 35 percent to 3.1 billion dirhams in 2022, while revenues rose 31 percent to 11.2 billion dirhams, while it reached Total profits amounted to 4.7 billion dirhams, a growth of 31 percent, and profits before interest, taxes, depreciation, and consumption amounted to about 3.7 billion dirhams, an increase of 32 percent, compared to last year 2022.
Aldar achieved a record year for development sales with an all-time high of AED 14.4 billion in annual sales, supported by strong demand from residents and investors for existing inventory, new project launches in Abu Dhabi, and contributions from Egypt; It also recorded a record level in the accumulated revenues of development projects, amounting to 17.6 billion dirhams.
Tecom
The Tecom Group, which owns and operates specialized business parks focusing on vital sectors, succeeded in achieving an increase in revenues on an annual basis by 12 percent to reach 1.97 billion dirhams, and a record increase in net profits by 28 percent to reach 725.62 million dirhams as a result of the strong demand for real estate. The group’s commercial and industrial sectors, Dubai’s strong macroeconomic environment, growing business scene and customer confidence.
sunshine
“Ishraq Investments” managed to record its highest ever annual net income of 589.8 million dirhams during the past year, an increase of 27 times on an annual basis compared to 2021, as a result of remarkable gains in the market value of 436.6 million dirhams after the acquisition of the “Goldilocks” fund. “.
Deyaar Development
“Deyaar Development” achieved an increase in net profits by 183.9 percent, from 50.8 million dirhams in 2021, to 144.24 million dirhams in 2022, while revenues increased by 61.7 percent to 803.4 million dirhams, up from 496.9 million dirhams, with the launch of the “Deyaar” project. Tria” in Dubai Silicon Oasis and achieved significant progress in the construction operations of its existing projects.
Ras Al Khaimah Real Estate
The net profit of “Ras Al Khaimah Real Estate” amounted to about 30.8 million dirhams, and revenues amounted to 408.2 million dirhams in 2022, with the company making good progress through deliveries in the residential sector and the 5-star hospitality sector.
Real estate union
The revenues of “Union Properties” increased by 5.1 percent to 419.2 million dirhams, thanks to the strong improvement in the performance of the group’s subsidiaries and the continuous growth witnessed by the real estate sector in the UAE, while net profits increased to 30 million dirhams, compared to losses of 966.8 million dirhams, thanks to the strategic recovery plan.
Aram group
The “Aram Group” shifted from loss to profitability after recording a net profit of 13.3 million dirhams in 2022, compared to losses of about 28.4 million dirhams in 2021. Revenues increased by 11.2 percent to 10.8 million dirhams in 2022, and assets increased by 9.98 percent to 184.2 million dirhams. Due to real estate revaluation gains of AED 12.7 million in addition to AED 7.3 million gains in equity investments.
Gulf investment
The “Gulf Investment” company recorded a net profit of 5.35 million dirhams last year, and its revenue increased from 16.9 million dirhams in 2021 to 17.9 million dirhams in 2022, and total assets reached about 296.5 million dirhams.
#Profits #listed #UAE #real #estate #companies #double #billion #revenues #reach #billion