Emaar's property sales could hit $5.8bn in 2021
Property sales at Emaar Development, the company behind the world's tallest tower Burj Khalifa and Downtown Dubai district, could hit Dh21.5 billion ($5.85bn), as activity picks up in the UAE’s real estate market amid a broader economic recovery, a note from EFG Hermes said.
The development arm of Dubai's biggest listed developer Emaar Properties is poised to record the highest amount of sales in 10 years, the report added.
“ED’s business model has proven resilient amidst the challenges posed since the 2009 real estate crash in the emirate,” the report said.
The company “managed to adapt to all such challenges with its strong balance sheet, backing of its parent company [Emaar Properties], market positioning and unique product mix,” it said.
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