Media ININ Economy We Trust
22-04-2019 Media in\ Dubai
The 23rd Annual General Meeting of Emaar Properties today approved a cash dividend of 1.07 billion dirhams ($ 290 million), representing 15 percent of the company’s capital or 15 fils per share.
The General Assembly also approved the Board of Directors ‘report on the Company’s activity, financial position, auditors’ report and balance sheet for the fiscal year 2018, as well as the appointment of KPMG as financial auditors for 2019.
Emaar posted a net profit of 7.216 billion dirhams ($ 1.965 billion) in fiscal year 2018, a 30 percent increase over the 2017 net profit before the impact of the initial public offering of Emaar Development and the movement of the forex market. Revenues in 2018 to 25.694 billion dirhams (6.995 billion dollars), a growth of 37 percent compared to revenues for the fiscal year 2017.
Emaar has achieved outstanding performance even during the difficult conditions experienced by the real estate market and has sold more than 30,500 housing units over the last 10 years to AED 88.4 billion (US $ 24.07 billion). Emaar posted sales of AED 14.4 billion (Dh3.92 billion) in 2018, or more than 65 percent of the total estimated sales of 21.4 billion dirhams ($ 5.83 billion) in Dubai.
