Emaar Properties PJSC, the Dubai-based real estate giant, has reported an impressive 46% year-on-year surge in property sales, reaching AED46 billion ($12.5 billion) in the first half of 2025. This outstanding growth reflects continued investor confidence and robust demand across Emaar’s flagship developments—both in the UAE and globally.
Backed by strategic expansion, disciplined cost management, and a diversified business model, the group also reported a net profit before tax of AED10.4 billion ($2.8 billion), marking a 34% increase compared to H1 2024.
Unprecedented Revenue Growth and Backlog Strength
Total revenue rose to AED19.8 billion ($5.4 billion) in H1 2025—a 38% increase from the same period last year—driven by strong performance across its property, retail, hospitality, and international divisions.
Crucially, Emaar’s revenue backlog reached AED146.3 billion ($39.8 billion) as of June 30, 2025, representing a remarkable 62% increase year-on-year, ensuring long-term visibility and cash flow sustainability.
Solid Financials and Operational Efficiency
- EBITDA for the period stood at AED10.4 billion ($2.8 billion), up 30%, with a healthy margin exceeding 52%.
- Net profit before tax saw a 34% jump, showcasing the company’s operational discipline and effective portfolio management.
In recognition of its performance, Emaar’s credit rating was upgraded in Q2 2025 by S&P Global (BBB+) and Moody’s (Baa1)—both with stable outlooks—further reinforcing market confidence.
UAE Developments Drive Core Growth
Emaar Development PJSC (DFM: EMAARDEV), the group’s UAE-focused property arm, reported property sales of AED40.6 billion ($11.1 billion) in H1 2025, up 37% year-on-year. The company launched 25 new projects in key master-planned communities, reflecting rising demand for lifestyle-centric developments.
- Revenue grew by 35% to AED10 billion ($2.7 billion).
- Net profit before tax rose by 50% to AED5.5 billion ($1.5 billion).
- The UAE development backlog reached AED128.6 billion ($35 billion), a 50% YoY increase.
Retail and Commercial Leasing Remain Strong Pillars
Emaar’s shopping malls and commercial leasing businesses generated AED3.2 billion ($871 million) in revenue—a 14% increase—with EBITDA reaching AED2.8 billion ($762 million), up 18%. Occupancy across mall assets remained strong at 98%, supported by continued growth in tenant sales and footfall.
Expanding Global Footprint
Emaar’s international operations also saw impressive growth, particularly in markets like India and Egypt:
- Property sales surged by 200% to AED5.3 billion ($1.4 billion).
- International revenue climbed to AED1 billion ($272 million), contributing 5% to Emaar’s overall revenue.
Hospitality Sector Rebounds with Higher Occupancy
The hospitality, leisure, and entertainment division recorded AED2.1 billion ($572 million) in revenue.
- Occupancy at UAE hotels averaged 80%, up from 78% in H1 2024.
- The company added two new hotels with over 600 rooms, strengthening its hospitality portfolio.
Recurring Revenue Portfolio Delivers Stability
Emaar’s recurring income portfolio—which includes malls, hospitality, entertainment, and commercial leasing—generated AED5.3 billion ($1.4 billion) in revenue, up 15%.
- EBITDA reached AED4.1 billion ($1.1 billion), representing 40% of total group EBITDA.
This recurring revenue stream continues to provide robust, stable cash flows across market cycles.
Driving ESG and Youth Development Initiatives
Beyond financials, Emaar is making strides in ESG and workforce development. Notable initiatives in H1 2025 include:
- Launch of the Emaar Youth Council
- Expansion of its Focused Mentorship 3.0 program
- Ongoing sponsorship of professional certifications like the CFA
Emaar also advanced its ESG agenda with a focus on energy efficiency, responsible sourcing, and waste reduction—earning an upgraded ESG rating from MSCI.
Founder’s Vision
Mohamed Alabbar, founder of Emaar, reflected on the company’s performance:
“Numbers alone don’t tell the full story. Behind every sale and every project, there’s purpose. Our goal is not only to meet targets but to build communities that inspire lasting connections and continuous growth.”
Conclusion: A Market Leader on the Rise
Emaar’s H1 2025 results reinforce its position as a dominant force in the global real estate market. With a healthy balance sheet, strong project pipeline, record-breaking backlog, and bold expansion into international markets, the company is well-positioned for sustained growth in the second half of the year and beyond.
