Real Estate

Strong Performance Across Development, Retail, Hospitality, and International Operations Underscores Strategic Resilience and Growth

Emaar Properties PJSC (DFM: EMAAR) has announced exceptional results for the first half of 2025, posting a 46% year-on-year increase in property sales to approximately AED 46 billion (US$12.5 billion)—the company’s highest-ever H1 performance. Revenue backlog surged 62% to AED 146.3 billion (US$39.8 billion), reinforcing Emaar’s sustained market dominance and long-term revenue visibility.

The company’s comprehensive growth across all key business segments—UAE development, shopping malls, international operations, and hospitality—demonstrates the effectiveness of its customer-centric strategy, operational discipline, and market adaptability.

Key Financial Highlights (H1 2025 vs H1 2024):

• Property Sales: AED 46 billion (US$12.5 billion), +46%

• Revenue: AED 19.8 billion (US$5.4 billion), +38%

• EBITDA: AED 10.4 billion (US$2.8 billion), +30% (EBITDA margin >52%)

• Net Profit Before Tax: AED 10.4 billion (US$2.8 billion), +34%

• Revenue Backlog: AED 146.3 billion (US$39.8 billion), +62%

UAE Development (Emaar Development PJSC):

Emaar Development (DFM: EMAARDEV) delivered outstanding results:

• Sales: AED 40.6 billion (US$11.1 billion), +37%

• Revenue: AED 10 billion (US$2.7 billion), +35%

• Net Profit Before Tax: AED 5.5 billion (US$1.5 billion), +50%

• Revenue Backlog (UAE): AED 128.6 billion (US$35 billion), +50%

The company launched 25 new projects across premium master-planned communities, catering to growing investor appetite for luxury and lifestyle-led developments in Dubai.

Shopping Malls, Retail & Commercial Leasing:

• Revenue: AED 3.2 billion (US$871 million), +14%

• EBITDA: AED 2.8 billion (US$762 million), +18%

• Occupancy: Maintained a strong average of 98%

Continued tenant sales growth and consistent occupancy reflect the portfolio’s resilience and brand strength.

International Operations:

• Property Sales: AED 5.3 billion (US$1.4 billion), +200%

• Revenue: AED 1 billion (US$272 million), +26%

India and Egypt were standout performers in Emaar’s global portfolio, with international real estate contributing approximately 5% to total revenue.

Hospitality, Leisure & Entertainment:

• Revenue: AED 2.1 billion (US$572 million)

• UAE Hotel Occupancy: 80%, up from 78%

• Expansion: 2 new hotels with 600+ keys added

Recurring Revenue Portfolio:

• Revenue: AED 5.3 billion (US$1.4 billion), +15%

• EBITDA: AED 4.1 billion (US$1.1 billion), +16%

• Contribution to Total EBITDA: 40%

This stable and diversified revenue stream underscores Emaar’s financial resilience and consistent cash flows.

Credit Rating & ESG Progress:

• Credit Upgrades:

  • S&P: BBB+ (Stable)

  • Moody’s: Baa1 (Stable)

• ESG Rating: Upgraded by MSCI

• Focus Areas: Energy efficiency, responsible sourcing, and circularity

Talent Development:

• Initiatives: Launch of Emaar Youth Council, Focused Mentorship 3.0, CFA sponsorships—emphasizing investment in Emirati talent and building a future-ready workforce.

Founder’s Perspective:

Mohamed Alabbar, Founder of Emaar, commented:

“Numbers alone don’t tell the full story. Behind every sale, every project, every community, there’s intent. There’s a team asking: how can we do better? How can we make someone’s everyday more meaningful? The first half of 2025 reflects that mindset. The focus goes beyond meeting targets to creating lasting impact and fostering stronger connections that inspire continuous growth.”

Conclusion:

Emaar’s exceptional H1 2025 performance confirms its strategic clarity, brand strength, and market leadership. With record-breaking property sales, soaring backlogs, and expanding global reach, the company is well-positioned to continue shaping the future of urban living—both in the UAE and worldwide.

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