Emaar Properties reported 2020 property sales of Dh10.90 billion and said it appointed a woman to its board.
Emaar recorded property sales of Dh6.321 billion ($ 1.72 billion) in the UAE alone. The developer said it handed over more than 72,100 residential units in Dubai and international markets, with more than 26,000 currently under development in the UAE and 12,000 units in global markets.
“The performance reflects sustained interest from investors, both domestic and foreign,” said Emaar in a statement.
The shareholders also elected a new board of directors composed of 9 members, including a woman. This comes after UAE’s Securities and Commodities Authority (SCA) made it compulsory for listed companies to appoint at least one woman to their boards.
The new board includes Mohamed Alabbar, Jassim Al Ali, Ahmad Al Matrooshi, Jamal Bin Theniyah, Buti AlMulla, and Eman Abdulrazzaq.
Abdulrazzaq, Emaar’s new female director, is the Chief Human Resources Officer at Emirates NBD, UAE’s largest bank. Prior to that, she was with HSBC for over 17 years performing various roles.
“By nurturing and developing our talents within Emaar, coupled with our constant digital transformation and product innovation, we have set the benchmark for future growth and long-term value creation for our shareholders,” said Mohamed Alabbar, Founder, Emaar Properties, in a statement.
“We have been able to maintain our market position, despite the challenges brought by the pandemic and are looking forward to the development of our future innovative projects,” he added.
With the recent merger of Emaar Properties and Emaar Malls that was announced on March 2, 2021, the entities will continue to pursue “the satisfaction of commercial and regulatory conditions until further notice,” the statement said.