Emaar Properties logged $1.62bn sales in 1st quarter of 2021

Emaar Properties logged Dirh6bn ($1.63bn) sales in the first quarter of this year, according to Emaar Properties managing director Mohamed Al Abbar.

" Sales of the same period of last year reached Dirh2.5bn, meaning that this year's numbers are so promising," he told Alarabyia News Channel, adding that the property market saw a significant growth in demand, particularly for villas and houses overlooking the sea.

Al Abbar appeared optimistic about this year's sales, noting that the world will co-opt with Coronavirus pandemic so well late this summer.

"The pandemic may last for one and one year and a half, but there are several positive signals."

Dubai's property prices are still low as compared with other areas of the world, he added, expecting prices to improve gradually.

Villas' prices increased in the range of 25 and 20 percent during the last five months owing to rising demand, as he predicted this trajectory to continue.

Emaar Properties organized its annual general assembly meeting, saying that it logged sales estimated at Dirh6,308bn (USD1,717bn), and netted Dirh1,657bn (USD451mln).

Also, Emaar owns projects worth Dirh24,605bn (USD6,699bn) whose sales revenues are due to be calculated in the years ahead.

During 2020, Emaar Properties delivered up to 4800 housing units in groundbreaking sites, such as Dubai Hills Estate, the downtown Al Mina, Arabian Ranches, Emaar Al Janoub. Until December 2020, up to 47000 housing units have been delivered, with more than 26000 units being under-construction in the UAE.

It is expected that Emaar Properties will deliver more than 6000 housing units this year via its key projects in Al Mina, Dubai Hills Estate and downtown Dubai City.

"In the face of Coronavirus-induced headwinds that we are experiencing worldwide, we continue in Emaar Properties to develop and commit to deliver our projects on time and within customers expectations. We pledge to exert strenuous efforts to achieve progress and go beyond expectations. We owe the successes we achieved to our partners, managers and teams," said he.

During 2021, businesses will witness notable gradual progress, he explained.

"Benefiting from innovations that were achieved in the digital world, we in Emaar Properties are exerting efforts to finish off our key projects, even ahead of schedule, as we continue to adhere to internationally-recognized standards featuring all our existing and upcoming projects."