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The Dubai real estate market is booming, and one company is leading the charge—Emaar Properties. This huge property developer made record sales, launched iconic projects, and innovated even more in H1 2024. Read on to learn how this real estate developer held on to the top spot in Dubai's luxury property sector.
Emaar: A Real Estate Leader in Dubai
For more than two decades, Emaar Properties has been setting the pace for Dubai's property market. Today, it is not only one of the largest listed developers in the UAE but also among the recognized brands globally. Known for masterly developments like the Burj Khalifa and Dubai Mall, Emaar spells the ultimate in luxury living—master-planned communities with ultra-modern amenities set amidst striking architecture.
Underpinned by sales and sales figures, new projects, financial highlights, and a great deal more, now it was the turn of Emaar to stage an exemplary performance in H1 2024. It proved that Emaar was second to none in building Dubai's future regarding real estate.
H1 2024 Sales: Record Growth for Emaar
Emaar started 2024 with a bang, achieving their highest ever first-half sales! By the end of June, the company had sold over 8,400 units - a massive 56% yearly increase.
Several factors are driving this momentous sales growth. Firstly, demand in Dubai is surging as the population expands. Secondly, Emaar’s focus on luxury attracts both investors and end-users. Thirdly, the company launched 30 exciting new projects in H1 2024, enticing buyers.
Emaar also partners with nearly 1,000 agencies to promote its developments. In 2024, they trained close to 6,000 agents through the Emaar Academy as well. This extensive sales network helps showcase Emaar’s stellar portfolio locally and globally.
Some major launches grabbed headlines by selling out rapidly. Address Residences Zabeel and Palace Residences Dubai Hills Estate each sold 2,500 units within a week! This demonstrates Emaar’s unrivalled brand strength and appeal in Dubai’s property arena.
As a whole, Emaar’s H1 2024 sales figures are a resounding success. The company is on track to continue this momentum and achieve long-term growth.
Emaar New Launches: Pioneering Developments in 2024
Aside from sales milestones, Emaar unveiled several groundbreaking new projects in H1 2024. The company’s strategic expansions and launches emphasize luxury, innovation, and sustainability.
One major expansion is Emaar’s The Oasis community. Emaar is more than doubling the project’s size, bringing the total value to over 73 billion AED. This larger Oasis will incorporate extensive green landscapes, a sanctuary-like feel, and first-class amenities.
Among the most anticipated openings in 2024 are The Heights and the Grand Polo Club. Covering over 80 million square feet collectively, both aim to redefine elite living.
The Heights offers a wellness retreat with sleek townhouses nestled in nature. The Grand Polo Club caters to equestrians with world-class facilities and a luxury resort aesthetic.
In retail, Emaar is developing the cutting-edge Dubai Square mall. Integrating advanced technology, this mall will elevate shopping experiences.
Emaar also broke ground on an innovative Music, Colour and Fire Plaza next to the upcoming Dubai Creek Tower. Surrounded by captivating displays, the Plaza will create a lively public space.
Let’s take short glimpse of Emaar ionic lanches in H1 2024
| Project | Area | Property Type | Size (Sq Ft) | Starting Price (AED) | Payment Plan |
|---|---|---|---|---|---|
| Avena at The Valley Phase 2 | The Valley | Villa | 3,685 | 4.36 M | 80/20 |
| Avena 2 at The Valley | The Valley | Villa | 3,708 | 4.37 M | 80/20 |
| Marina Views at Rashid Yachts & Marina | Mina Rashid | Apartment, Penthouse | 724 - 2,977 | 1.65 M | 80/20 |
| Ocean Cove at Rashid Yachts & Marina | The Valley | Villa | 786 - 1,853 | 1.76 M | 80/20 |
| Venera at The Valley Phase 2 | The Valley | Townhouse | 2,452 - 2,731 | 2.48 M | 80/20 |
| Velora at The Valley Phase 2 | The Valley | Townhouse | 2,456 - 2,731 | 2.48 M | 80/20 |
| Palm Hills Villas | Dubai Hills Estate | Villa | 5,511 - 6,573 | 10 M | Pay 30% Post-Handover |
| Moor at Creek Beach | Dubai Creek Harbour | Apartment | 680 - 1,572 | Call Us | Easy Payment Plan |
| Palace Residences Creek Blue | Dubai Hills Estate | Apartment | 727 - 1,775 | 1.87 M | 90/10 |
| Greenway 2 at Emaar South | Emaar South | Townhouse | 2,151 - 2,497 | 2.7 M | 90/10 |
| Palace Residences on The Beach | Dubai Harbour | Apartment | 776 to 1,775 | 2.1 M | Easy Payment Plan |
These developments highlight Emaar's constant pursuit of the next frontier. The company envisions groundbreaking concepts that meet future needs and desires.
Financial Growth and Milestones
Besides sales and launches, Emaar's comprehensive performance in H1 2024 was good.
In 2023, the company’s property sales grew 22% to 37.4 billion AED. Plus, Q1 2024 sales were 50% higher year-on-year, signaling sustained prosperity.
Emaar continued well in its execution. Within only 6 months, the company has awarded nearly 50 construction contracts with over 8.7 billion AED.
The flagship projects also continued to break the records, with Burj Khalifa being officially certified as the world's tallest LEED Platinum-certified building, which underlines Emaar's sustainable construction commitment.
Emaar's Dubai Mall stayed as the world's most-visited destination, as visits to the mall increased by 8% during H1 2024 compared to last year.
Emaar Hospitality also received multiple honors, including several Forbes Travel Guide 5-Star awards. The hospitality division opened a slew of new properties as well, including Address Dubai Mall and Palace Dubai Creek Harbour.
Financial results remained robust, with 7 billion AED in net profit in 2023 - a 4% annual increase. Overall, Emaar maintained its leadership position despite industry challenges.
Entertainment Success
Emaar's entertainment division also thrived in H1 2024. Dubai Opera achieved record attendance - welcoming over 250,000 spectators. This demonstrates the strong demand for premium events and experiences.
Additionally, Emaar opened the largest underwater zoo in Bahrain, along with the country's first IMAX with Laser cinema. These compelling leisure destinations showcase Emaar's commitment to delivering exceptional entertainment across the region.
Operational Excellence
Behind the scenes, Emaar maintained its reputation for operational excellence. In H1 2024 alone, the company conducted over 2,300 fire safety training sessions for thousands of staff. This ensures the highest standards are upheld across its assets.
Emaar also efficiently handled infrastructure challenges like heavy April rainfall. Its swift response and support for affected residents earned appreciation.
"For example, Emaar provided free repairs to over 4,500 homes damaged by the heavy rains - exemplifying its customer-centric approach," said the company founder.
Forging Ahead: The Roadmap for the Future
Emaar outlined a clear roadmap during its H1 2024 strategic presentation.
Moving forward, Emaar will continue enhancing Dubai's infrastructure through iconic developments. Luxury, sustainability, and technology will be key focuses.
Specifically, the company aims to strengthen its hospitality footprint globally by building on the momentum in 2022. Several new hotel brands may be in the works.
The entertainment business is another priority area. Emaar plans to open more leisure destinations and partner with global brands to bring new concepts to Dubai.
Most importantly, Emaar will keep launching awe-inspiring master-planned communities. The company’s commitment to anticipating buyer needs and market trends will continue elevating Dubai's lifestyle offerings. While details remain under wraps, investors can expect new waterside residences, wellness-focused projects, and other developments that push boundaries.
Conclusion: Emaar Stays Ahead
With its sterling 2024 half-year results across sales, launches, and operations - Emaar remains unrivaled as a luxury developer.
The company’s dedication to mindfulness, quality, and customer centricity shines through in all its endeavors. As Dubai expands its global footprint, Emaar is sure to remain the flagship driving growth through landmark projects. For property buyers and real estate investors, Emaar retains its strong brand appeal. The developer’s sustained performance shows it has the experience and capability to deliver excellence.
Looking ahead, Emaar is poised to keep raising benchmarks and setting new trends in master-planned communities. The company’s strategic blueprint focuses on innovation, sustainability, and customer happiness – a winning combination.
In Dubai’s booming market, we can expect iconic developments and more sales records from Emaar in the years to come. The company's vision and execution will play a key role in this city's future as it cements its status as a top global destination.
