Dubai (Etihad)
Yesterday, Emaar Development held its annual general assembly meeting, where the Board of Directors reviewed the strong performance achieved by the company in 2023.
During the annual general assembly meeting, shareholders approved the Board of Directors’ proposal to distribute profits worth 2.082 billion dirhams ($567 million), equivalent to 52% of the capital (about 52 UAE fils per share), which reflects the company’s commitment to achieving profitable returns for shareholders.
During the meeting, the Board of Directors’ report for the year 2023 on Emaar Development’s activity and its financial position and the auditor’s report were also approved.
The Board of Directors also reaffirmed the company's commitment to providing high-quality real estate and residential complexes to its customers and residents.
Emaar Development announced real estate sales worth 37.4 billion dirhams ($10.2 billion), an increase of 22% compared to 2022, bringing the value of accumulated sales to a record level of 57.1 billion dirhams ($15.5 billion), which will be recorded as revenues in the coming years. .
Mohammed Al Abbar said: The success achieved by Emaar Development in 2023 is clear evidence of our distinguished operational approach and the great demand for our leading products, which enables us to continuously improve and enhance our performance. In 2024, we seek to launch more ambitious new properties and projects.
He added: Our continued growth on an annual basis and the rise in our profitability are directly due to the consistent support of our shareholders, wise management, and a highly qualified work team. It also highlights our dedication to providing exceptional value to shareholders, and our pivotal role in enhancing economic activity in Dubai, the foundation of our prestigious brand built on Trust and quality.
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