Emaar Properties announced a remarkable 46% surge in property sales during the first half of 2025, totaling Dhs46 billion (approximately $12.5 billion), achieving the highest half-year sales figures ever recorded.
This growth is a testament to the sustained demand for its master-planned communities and lifestyle offerings, as well as significant advancements across its retail, hospitality, and international divisions.
The company’s revenue backlog increased to Dhs146.3 billion ($39.8 billion) by June 30, a notable 62% rise year-over-year, which provides excellent visibility for forthcoming revenue streams.
Consolidated revenue reached Dhs19.8 billion ($5.4 billion), signifying a 38% increase compared to the first half of 2024.
Emaar reported an EBITDA of Dhs10.4 billion ($2.8 billion), reflecting a 30% year-on-year growth, with EBITDA margins surpassing 52%.
The net profit before tax also amounted to Dhs10.4 billion ($2.8 billion), representing a growth of 34% compared to the same period last year.
In the second quarter, Moody’s upgraded Emaar’s credit rating to Baa1 with a stable outlook, following S&P Global’s earlier rating upgrade to BBB+, also with a stable perspective.
Emaar’s founder, Mohamed Alabbar, emphasized, “The numbers alone cannot convey the whole narrative. Behind each sale, project, and community lies intention. Our team continuously asks how we can improve and enhance everyday life for our clients. The first half of 2025 embodies this philosophy.”
Strong Growth in Development Sector, Retail and Leasing Performance Improves
Emaar Development achieved property sales of Dhs40.6 billion ($11.1 billion) in the first half of 2025, reflecting a 37% increase year-on-year, supported by 25 new project launches.
Revenue from development operations within the UAE rose by 35% to Dhs10 billion ($2.7 billion), with net profit before tax soaring by 50% to Dhs5.5 billion ($1.5 billion).
Total consolidated revenue from UAE development reached Dhs13.5 billion ($3.7 billion), marking a 50% increase. The project backlog from UAE facilities climbed to Dhs128.6 billion ($35 billion), also up by 50% since the first half of 2024.
Revenue from Emaar’s shopping malls and leasing enterprises increased by 14% to Dhs3.2 billion ($871 million), with EBITDA rising by 18% to Dhs2.8 billion ($762 million).
As of June 30, the average occupancy rate across malls was at an impressive 98%.
Growth in International and Hospitality Sectors
International property sales more than tripled year-on-year to Dhs5.3 billion ($1.4 billion), with revenue climbing by 26% to Dhs1 billion ($272 million), largely driven by robust activity in India and Egypt.
International operations accounted for roughly 5% of total revenue for the first half of 2025.
The hospitality, leisure, and entertainment sector generated revenue of Dhs2.1 billion ($572 million), supported by an 80% average occupancy rate across UAE hotels, a rise from 78% the previous year.
Two new hotels featuring over 600 rooms were added to the portfolio in the first half of 2025.
Strengthening Recurring Revenue Streams
Emaar’s recurring revenue segments, which include malls, hotels, leisure, entertainment, and commercial leasing, generated Dhs5.3 billion ($1.4 billion) in revenue during the first half, up by 15% year-on-year.
EBITDA from these segments rose 16% to Dhs4.1 billion ($1.1 billion), constituting 40% of the group’s total EBITDA.
Emaar initiated a Youth Council and launched new mentorship programs while continuing to support professional certifications such as the CFA, aligning with its commitment to the development of Emirati talent.
In terms of environmental, social, and governance (ESG) initiatives, the company reported ongoing advancements in energy efficiency and responsible sourcing, bolstering its improved MSCI ESG rating.