The Dubai-listed developer reported EBITDA of Dh12.9 billion for the six months ended June 30, up 24 percent year-on-year, while net profit before tax increased 23 percent to Dh12.8 billion compared with the same period in 2025.
The Dh164.9 billion property sales backlog was 13 percent higher year-on-year and reflects sales that are expected to be recognised as projects progress and units are delivered, positioning Emaar with multi-year revenue visibility.
UAE Development Business Drives Performance
Emaar’s UAE build-to-sell business, led by Emaar Development, recorded Dh22.4 billion in property sales during the first half, underscoring sustained demand across Dubai’s residential property market.
Emaar Development generated revenue of Dh13.3 billion, up 34 percent year-on-year, while net profit before tax increased 41 percent to Dh7.8 billion.
Including other UAE development operations such as Dubai Creek Harbour, consolidated revenue from the group’s UAE property development business reached Dh17.7 billion, an increase of 30 percent.
The UAE development revenue backlog stood at Dh135.7 billion at the end of June, up 6 percent from the same period in 2025, reflecting strong pre-sales across the developer’s project portfolio.
Emaar launched 11 projects during the first half across Emaar South, Dubai Hills Estate, The Heights Country Club, The Oasis, Rashid Yachts & Marina and Expo Living. The company also announced a new Dh200 billion masterplan during the period, adding to its longer-term development pipeline.
Our first half results reflect the discipline, consistency, and long-term approach that define Emaar. Dubai never stands still, and neither do we. Every phase of the city’s growth creates new opportunities to raise expectations and redefine experiences. Emaar’s role is to continue building destinations that reflect Dubai’s ambition while maintaining the quality, innovation, and operational excellence that have shaped our business from the beginning.
Mohamed Alabbar, founder of Emaar
Large Development Land Bank Supports Pipeline
The group held approximately 590 million square feet of mixed-use development land, including about 316 million square feet in the UAE, providing a substantial platform for future project launches.
Its international development operations recorded Dh4.2 billion in property sales during the first half, with revenue reaching Dh1.1 billion, up 8 percent year-on-year.
International operations accounted for about 4.6 percent of Emaar’s total revenue during the period, with Egypt and India among its key markets.
Malls Maintain 98 Percent Occupancy
Emaar’s shopping malls, retail and commercial leasing business generated Dh3.5 billion in revenue during the first half, an increase of 9 percent year-on-year.
EBITDA from the segment rose 10 percent to Dh3.1 billion, while average occupancy across the portfolio remained at about 98 percent at the end of June.
The company said leasing income remained supported by a predominantly base-rent structure despite a moderation in tenant sales.
Emaar’s hospitality, leisure and entertainment business generated Dh1.6 billion in revenue during the period, while its UAE hotels recorded average occupancy of 60 percent.
The group said softer international tourism flows affected the hospitality portfolio, with local and domestic demand providing some support.
Recurring Revenue Portfolio Stable
Recurring revenue from Emaar’s malls, hospitality, leisure, entertainment and commercial leasing assets stood at Dh5.1 billion, broadly unchanged from the first half of 2025.
EBITDA from the recurring revenue portfolio was Dh4 billion and accounted for about 31 percent of total group EBITDA, providing a stable earnings base alongside the developer’s project sales.
The results underscore Emaar’s position as Dubai’s largest developer by sales value, with performance aligning with broader market trends that saw the emirate complete 24,800 residential units during the first half of 2026 and record Dh221.4 billion in transaction values across 79,300 deals.
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