Emaar reported its net profit

Emaar reported its net profit

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  • Emaar has reported its H1 2023 net profit

Emaar has reported its H1 2023 net profit has reached $1.3 billion

It's a 15% growth compared to the same period in 2022.

During H1 2023:

  • Emaar group property sales increased by 14% to $5.5 billion
  • The developer's credit rating was upgraded
  • Emaar's UAE hotels, including those under management, average occupancy rate reached 70%
  • Was announced the opening of the hotel, Address Jabal Omar Makkah, featuring 1,484 rooms, located at the heart of Mecca, Saudi Arabia
  • The developer's international property sales reached $327 million, most of them in Egypt and India
  • Recurring revenue rose by 11% compared to H1 2022
  • Emaar Development, a majority-owned subsidiary, sales went up by 25%, totalled $5.2 billion, compared to $4.1 billion in H1 2022

Only in June, the developer announced:

  • Launch of the premium resort-style project The Oasis by Emaar
  • Start of sales of townhouses in Rivana
  • Start of sales of apartments in Rachid Yacht & Marina
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