EMAAR IS ON TRACK TO ACHIEVE $132 BILLION IN PROPERTY SALES BY 2040
EMAAR IS MAKING STEADY PROGRESS TOWARDS ATTAINING $132 BILLION IN PROPERTY SALES BY THE YEAR 2040
Emaar Properties, the prominent developer in Dubai, has set a target of achieving Dh485 billion ($132.15 billion) in sales by 2040, with Dh155 billion (32%) expected within the next five years. EFG Hermes reports that Emaar's dominance in the market is bolstered by its premium communities and diverse property portfolio, encompassing retail, residential, commercial, office, and hospitality sectors. The resurgence of Dubai's economy following the pandemic-induced slowdown is providing a supportive backdrop for Emaar's expansion. The economy rebounded by 4.6% in the initial nine months of the preceding year, an estimated growth of 5% in 2022, and a projected increase of 3.5% in 2023.
Dubai's economic revitalization is evident in its robust performance, attracting a rising number of affluent visitors and reclaiming its position as a premier destination. The property market is displaying strength, with first-quarter transactions surging by 80% on an annual basis, reaching Dh157 billion. Given Emaar's integral role in Dubai's real estate sector and the positive economic trajectory of the emirate, the company is well-positioned for sustained growth.
RELATED NEWS
5 MEGA PROJECTS TO TRANSFORM UAE’S LANDSCAPE
The UAE is poised for a transformative shift as five mega projects, featuring the world's largest wave pool
DUBAI’S HABTOOR ANNOUNCES WORLD’S LARGEST RESIDENTIAL TOWER
The Al Habtoor Group has revealed the launch of the world’s largest residential
