Dubai Developer Sees Profit and Sales Growth

Emaar Properties reported a strong first quarter in 2025, driven by high real estate demand in Dubai and successful project launches. The company's revenue surged 50% year-on-year to Dh10.1 billion ($2.8 billion), with EBITDA increasing 24% to Dh5.4 billion ($1.5 billion). Net profit before tax also rose 27% to Dh5.4 billion ($1.5 billion), supported by strong operational performance. Property sales reached Dh19.3 billion ($5.3 billion), a 42% increase, and the sales backlog grew 62% to Dh127 billion ($34.6 billion), indicating strong future revenue.

Emaar Development PJSC, the UAE-focused subsidiary, achieved record quarterly sales of Dh16.5 billion ($4.5 billion), a 28% increase. Recurring revenue segments, including shopping malls, commercial leasing, hospitality, and entertainment, also contributed significantly. Mall operations generated Dh1.5 billion ($408 million) in revenue with 98% occupancy, while hospitality, leisure, and entertainment brought in Dh1.1 billion ($299 million), supported by an 82% hotel occupancy rate in the UAE.

International operations contributed Dh2.8 billion ($762 million) in property sales and Dh626 million ($170 million) in revenue, with significant activity in India and Egypt. Recurring revenue streams generated Dh2.6 billion ($707 million) in revenue, contributing Dh2 billion ($545 million) to EBITDA, representing 37% of the total. Emaar's creditworthiness was recognized with an S&P Global upgrade to BBB+ and a third ESG rating upgrade from MSCI, reflecting its commitment to sustainability. With strong financial results and a robust development pipeline, Emaar is well-positioned for continued growth in 2025.