Real estate price changes and developers' news

Real estate price changes and developers' news

  • News
  • How real estate prices have changed and what is the revenue of Emaar and Damac Properties

Residential property prices increased by 33.4% in January 2022 compared to January 2021.

According to a report by the financial company, EFG Hermes, property prices rose for segments: Luxury – by 35.1% Affordable – by 37.2% Budget – by 15.7% Average price – 4,614$ per sqm TOP areas in price growth: 1. Jumeirah 2. MBR City 3. Palm Jumeirah

Emaar announced record numbers for 2021.

Compared to 2020:

  • Revenue increased by 57% (up to $7.7 billion)
  • Net profit increased by 80% (up to $1 billion)
  • Sales inicresed by 209% (up to $9.2 billion)

This is the highest ever property sales recorded by Emaar since its incorporation in 1997. Earlier, developer announced start of sales of the Bliss 2 project

Damac Properties announced revenue of $817 million in 2021.

Developer took a net loss of $144.6 million. In 2020, the net loss was $175.9 million. In 2021, Damac delivered 7,400 residential units at Damac Hills and Damac Hills 2 projects. Sources: The National News, Gulf News

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