Emaar Development, the build-to-sell (BTS) assets unit of Dubai master-developer Emaar, has announced that more than 24,500 residential units are currently under construction across its various masterplans and it is set to deliver around 8,500 units later this year.
Announcing this at its Annual General Meeting (AGM), Emaar Development said it has already delivered more than 4,700 residential units in 2021 across prime locations, including Dubai Hills Estate, Dubai Creek Harbour, Downtown Dubai, Emaar South and Emaar Beachfront.
A leading developer of residential and commercial BTS assets in the UAE, Emaar Development stressed that it remained committed to delivering quality homes and communities to its customers and residents while ensuring that all future projects are completed within its stated time frames.
At the AGM, its board of directors reflected on the company’s 2021 robust performance and resilience during a time of great economic recovery from disruption caused by the Covid-19 pandemic.
Emaar’s BTS assets unit had reported property sales of AED27.44 billion ($7.471 billion) in 2021, up 335 per cent over the previous year, while its net profit surged 96 per cent to hit AED3.244 billion. The company continued to maintain a healthy sales backlog of AED28.616 billion which will be recognised as revenue in the coming years, it added.
News Source: Gulf Construction
