Emaar Development reported a 66% increase in property sales for the first nine months of 2024, reaching Dh48 billion compared to Dh28.9 billion during the same period in 2023. Revenue for the period grew 69% to Dh12.5 billion with EBITDA rising 35% to Dh6 billion.

The company’s sales backlog now stands at Dh83.7 billion, a 47% increase from December 2023 set to be recognized as future revenue.

Founder Mohamed Alabbar attributed the strong performance to customer trust and Emaar’s commitment to innovation and sustainable growth. He highlighted Dubai’s rapid population growth and its increasing appeal across sectors like technology, healthcare and education which is driving demand for real estate and infrastructure.