Emaar Properties kicked off 2026 with a standout first quarter, reporting net profit before tax of Dh7.2 billion ($2 billion), up 33 percent from the same period last year. Total revenue climbed 23 percent to Dh12.4 billion, driven by robust property sales in established Dubai communities and new project launches. Property sales reached Dh22.4 billion, marking 16 percent growth and underscoring sustained investor appetite despite regional headwinds.
EBITDA rose 34 percent to Dh7.2 billion, reflecting operational efficiencies across development, malls and international operations. Emaar Development, the build-to-sell arm, posted revenue of Dh6.9 billion (up 36 percent) and profit before tax of Dh4 billion (up 46 percent), with sales hitting Dh20.1 billion. The diversified model — blending UAE residential, commercial leasing and overseas projects — buffered the portfolio against market volatility.
Dubai’s real estate market provided tailwinds, with transactions surging 31 percent to Dh252 billion in Q1, including 60,303 deals. Emaar’s established assets like Downtown Dubai and Dubai Hills Estate drew both end-users and investors seeking yield amid global uncertainty. New launches capitalised on demand for luxury villas and apartments, with handovers accelerating revenue recognition.
The hospitality segment contributed steadily through high mall occupancy and stable leasing income. Emaar’s mall portfolio benefited from tourist rebound and retail recovery, while international ventures in Egypt, India and Turkey added geographic balance. This resilience highlights Emaar’s execution strength, maintaining margins even as input costs rose modestly.
For Middle East real estate, Emaar’s results validate Dubai’s status as the region’s transaction hub. Off-plan sales dominated, reflecting investor confidence in developer delivery amid 7 percent rental yields. The company maintains a Dh109 billion development pipeline, positioning it for multi-year growth as UAE population expands.
Challenges persist, including regional tensions impacting tourism flows and construction timelines. Yet Emaar’s balance sheet — with Dh18.5 billion cash — supports land acquisitions and project acceleration. Management guided for full-year delivery across 25,000 units, targeting Dh85 billion in sales.
Emaar’s Q1 performance sets a high bar for UAE peers, demonstrating how scale, brand strength and diversification drive superior returns. Investors rewarded the results with shares gaining 4 percent post-announcement. As Dubai positions for Expo 2030 and D33 economic agenda, Emaar’s entrenched position ensures continued market leadership.
