UAE property developer Emaar will be distributing a huge payout to its shareholders, following positive sales results in the past several months.
The master developer of Burj Khalifa announced on Wednesday that it will be handing out Dh1.04 billion as special cash dividend to investors, marking a year of its listing on the Dubai Financial Market.
As property buyers continue to pour into Dubai’s real estate market, snapping up villas and apartments, Emaar managed to stash a net profit of Dh1.82 billion from January to June this year and a revenue of Dh6.99 billion.
During the first six months of the year, Emaar offered up 3,600 residential units for sale and scooped up a total of Dh6.23 billion from buyers.
Its current total sales backlog stands at more than Dh38.5 billion, huge portion of which will be “recognised as revenue over the next three to four years.”