Emaar Properties PJSC (DFM: EMAAR) has reported a record-breaking first half of 2025, with strong results across property sales, revenue, and profit, underpinned by demand for its master-planned communities and diversified portfolio.
The Dubai-based developer achieved property sales of approximately AED 46 billion (US$ 12.5 billion) in H1 2025, a 46% increase compared to the same period last year, surpassing previous records. Its revenue backlog rose 62% year-on-year to AED 146.3 billion (US$ 39.8 billion), providing robust visibility for future earnings.
Group revenue reached AED 19.8 billion (US$ 5.4 billion), up 38% year-on-year, driven by growth in development, retail, hospitality, and international operations. EBITDA rose 30% to AED 10.4 billion (US$ 2.8 billion), with a margin above 52%, while net profit before tax also climbed 34% to AED 10.4 billion.
Founder Mohamed Alabbar said the company’s performance reflects “a mindset that goes beyond meeting targets to creating lasting impact,” highlighting the role of teams in maintaining quality and fostering community connections.
UAE Development Business
Emaar Development PJSC maintained strong momentum with 25 project launches in prime locations. UAE property sales hit AED 40.6 billion (US$ 11.1 billion), up 37% year-on-year. Revenue rose 35% to around AED 10 billion (US$ 2.7 billion), and net profit before tax surged 50% to AED 5.5 billion (US$ 1.5 billion).
The consolidated UAE development revenue for Emaar reached AED 13.5 billion (US$ 3.7 billion), up 50% year-on-year. Revenue backlog from UAE developments grew 50% to AED 128.6 billion (US$ 35 billion).
Retail and Leasing
Shopping malls and commercial leasing generated AED 3.2 billion (US$ 871 million) in revenue, a 14% rise year-on-year, with EBITDA climbing 18% to AED 2.8 billion (US$ 762 million). Occupancy across mall assets remained at 98%.
International Operations
International property sales jumped 200% to AED 5.3 billion (US$ 1.4 billion), supported by strong demand in India and Egypt. International revenue grew 26% to AED 1 billion (US$ 272 million), representing around 5% of total group revenue.
Hospitality, Leisure, and Entertainment
Hospitality revenue reached AED 2.1 billion (US$ 572 million), driven by higher tourist arrivals and domestic demand. Average hotel occupancy in the UAE rose to 80%, compared to 78% last year. Two new hotels with over 600 keys were added in H1 2025.
Recurring Revenue Portfolio
Recurring revenue streams from malls, hospitality, leisure, entertainment, and commercial leasing grew 15% to AED 5.3 billion (US$ 1.4 billion), with EBITDA of AED 4.1 billion (US$ 1.1 billion), up 16%. This segment accounted for 40% of total EBITDA.
Emaar’s credit rating was upgraded by both S&P Global and Moody’s in 2025, reflecting the company’s strong operational performance, robust financial position, and growth outlook.
The company said it remains focused on cost efficiency, sustainability initiatives, and talent development, aiming to maintain its growth trajectory in the second half of 2025.
