Dubai: Emaar Properties reported a robust first quarter for 2025, driven by surging real estate demand in Dubai, successful project launches, and solid investor confidence across its diverse portfolio. The developer recorded a 50% year-on-year increase in revenue to Dh10.1 billion ($2.8 billion), while EBITDA rose 24% to Dh5.4 billion ($1.5 billion).
Net profit before tax also grew by 27% to Dh5.4 billion ($1.5 billion), supported by high-margin developments and operational efficiency. Property sales surged 42% year-on-year to Dh19.3 billion ($5.3 billion). As of March 31, Emaar’s property sales backlog reached Dh127 billion ($34.6 billion), marking a 62% increase and signalling strong future revenue potential.
“These results are more than numbers; they reflect the ambition of a team that refuses to stand still, and a community that inspires us to go further,” said Founder Mohamed Alabbar. “At Emaar, we don’t follow momentum — we create it.”
Segment Highlights
Emaar Development PJSC, the UAE-focused subsidiary, recorded its highest-ever quarterly sales at Dh16.5 billion ($4.5 billion), a 28% rise from Q1 2024.
Shopping malls generated Dh1.5 billion ($408 million) in revenue, with 98% average occupancy across assets.
Hospitality and leisure earned Dh1.1 billion ($299 million), driven by an 82% hotel occupancy rate in the UAE.
Recurring revenue segments brought in Dh2.6 billion ($707 million), contributing Dh2 billion ($545 million) to EBITDA—37% of total group EBITDA.
International operations, particularly in India and Egypt, accounted for Dh2.8 billion ($762 million) in property sales and Dh626 million ($170 million) in revenue—roughly 6% of total group revenue.
Outlook and Ratings
Emaar’s financial strength was recognised by S&P Global, which upgraded the company’s credit rating to BBB+ with a stable outlook. The company also received its third ESG rating upgrade from MSCI in four years, reflecting its progress in sustainability, resource efficiency, and responsible sourcing.
With a record development pipeline, strong recurring revenue streams, and favourable credit ratings, Emaar is well-positioned to sustain its momentum throughout 2025.
