Investor Relations

Emaar net profits for 2006 up by 35% to reach AED 6.371 billion

On 29th January 2007, Emaar posted a record annual net profit of AED 6.371 billion (US$ 1.735 billion) compared to AED 4.731 billion (US$ 1.288 billion) in year 2005. Annual revenue increased by 68 per cent from AED 8.361 billion (US$ 2.276 billion) to AED 14.006 billion (US$ 3.813 billion). Earnings per share (EPS) for the year 2006 was AED 1.06 (US$ 0.29) compared to AED 0.85 (US$ 0.23) during 2005.

Emaar recorded fourth-quarter revenue and net profits of AED 5.548 billion (US$ 1.510 billion) and AED 1.713 billion (US$ 0.466 billion) respectively. This was 64 per cent more than the third-quarter revenue of AED 3.379 billion (US$ 0.920 billion) and 7 per cent more than the net profit of AED 1.605 billion (US$ 0.437 billion) for the period ended September 30, 2006. 

The fourth-quarter figures represent a growth of 246 per cent in revenue and 65 per cent in net profit respectively over the fourth-quarter 2005 revenue and profit of AED 1.604 billion (US$ 0.437 billion) and AED 1.041 billion (US$ 0.283 billion), respectively.

Emaar scaled a significant milestone as Burj Dubai - the iconic super-tower billed to be the tallest in the world – crossed 100 levels and continues to add a new floor every three days. The company also unveiled residential projects in Dubai Marina and Downtown Burj Dubai. The sale of Emaar’s premium properties in Dubai fetched overwhelming investor response. In the UAE, Emaar is also on-schedule with the AED 12 billion (US$ 3.3 billion) Umm Al Quwain Marina project. 

Emaar’s international project portfolio reached an all-time high in terms of development value in 2006. Sales of homes and commercial property across a majority of the countries in which the company currently operates will gather momentum in 2007. Emaar currently has its international projects in Kingdom of Saudi Arabia, India, Pakistan, Jordan, Syria, Turkey, Egypt and Morocco with total development value exceeding AED 220 billion (US$ 60 billion).