Emaar: Backlog Sales Near AED 180 Billion and 98% Collection Rate
Emaar founder Mohamed Alabbar stated that the company's sales backlog stands at approximately AED 180 billion with a 98% collection rate, adding that it sells around 4,000 units per month.
Emaar Properties founder Mohamed Alabbar stated that the company's sales backlog stands at approximately AED 180 billion, equivalent to $49 billion, during his participation in the Sharjah Investment Forum, as reported by the "Zawya" platform.
Alabbar explained that the collection rate reached 98%, remaining stable at its level from a year ago following a temporary decline during a period of regional tensions.
He added that the company typically sells around 4,000 residential units per month, indicating sustained demand for its projects.
In the same context, cancellations dropped below 600 per month, after reaching a temporary peak of around 1,200 cancellations.
What do these terms mean?
Backlog sales: The value of properties sold and contracted by customers that have not yet been delivered.
Collection rate: The percentage that the company has actually collected from the sales value due to it.
Cancellations: The number of purchase contracts backed out of by buyers prior to unit delivery.
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