- News
- 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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