Emaar celebrates remarkable H1 growth; discusses way forward

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Dubai-based Emaar Properties has announced that it had recorded remarkable progress during the first half with 30 launches successfully completed resulting in the sale of 8,400 units, up 56% over last year.

Celebrating the key achievements at its mid-year internal staff rally, Emaar’s leadership reviewed and shared the company’s operational performance and way forward. During the rally, Emaar presented significant milestones and achievements across all areas of its operations.

Commenting on the company’s H1 performance, Founder Mohamed Alabbar said: "This shows Emaar’s relentless pursuit of excellence and innovation. We are not just managing businesses; we are shaping legacies and transforming communities for a prosperous future."

Some of the highlights presented during Emaar’s H1 2024 Rally include:

*Emaar Development saw remarkable progress with 30 launches successfully completed, resulting in the sale of 8,400 units within the first six months, representing 56% growth.

*Emaar partnered with 995 agencies and trained 5,945 agents through the Emaar Academy to achieve such growth. *Some of its significant projects, including Address Residences Zabeel and Palace Residences Dubai Hills Estate, sold 2,500 units each in just seven days, highlighting Emaar’s strong market presence and appeal.

*The company had also awarded 50 construction contracts worth AED8.7 billion ($2.36 billion) during the period.

Additionally, Alabbar said Burj Khalifa achieved LEED Platinum certification for sustainable construction, further showcasing Emaar's commitment to sustainability.

*Emaar’s malls, including Dubai Mall, continued to thrive, with Dubai Mall being recognised as the most visited place on Earth in 2023 with 105 million visitors. In H1, 2024, the mall recorded 8% increase in footfall as compared to the same period in 2023. Enhancements such as improved carpark availability and world-class washroom designs further elevated the visitor experience.

*Emaar Entertainment and Dubai Opera experienced unprecedented success, with record-breaking attendance at Dubai Opera, attracting 250,000 spectators. The Marassi Aquarium & Underwater Zoo, the largest in Bahrain, and the first IMAX with Laser in Bahrain’s Reel Cinemas, showcased Emaar’s commitment to delivering exceptional entertainment experiences.

*Operational excellence remained a key focus, with 2,331 fire safety and emergency preparedness training sessions conducted, training 6,561 Emaar and retailer staff. Emaar Community Management effectively managed water accumulation during heavy rainfall in April, ensuring continuous support and recovery for affected communities.

"Emaar notably offered free repairs for all residential units within its communities which were affected by the heavy rains. More than 4,500 homes were repaired until end of June 2024," said the company founder.

Internationally, Emaar marked significant achievements with the 100% sale of Urban Oasis in Gurgaon during its launch and substantial progress in Panorama and The Views in Karachi.

Emaar Hospitality celebrated numerous accolades, including Forbes Travel Guide 5-Star Ratings for Address Istanbul, Address Beach Resort, and Armani Hotel Dubai. New openings and rebranding efforts, such as the rebranding of Address Dubai Mall and the opening of Palace Dubai Creek Harbour, underscored Emaar’s commitment to delivering exceptional hospitality experiences.

According to him, Emaar's H1 2024 rally focused on the company's dedication to innovation, quality, and customer satisfaction.

Looking ahead, Emaar remains committed to its mission of creating a lasting legacy of excellence by inspiring success in every community it serves, he added.-TradeArabia News Service