Staff Report
Dubai, UAE
Emaar Properties, a UAE-based property developer and lifestyle provider, announced its financial performance for the first sixth months of 2025. Its net profit before tax increased to Dh10.4 billion, recording a growth of 34 percent compared to the same period last year. Revenue increased to Dh19.8 billion, marking a growth of 38 percent over H1 2024, driven by robust performance across development, retail, hospitality, and international operations.
Emaar’s property sales surpassed previous records with Dh46 billion in H1 2025, representing an increase of 46 percent compared to H1 2024. Revenue backlog also surged to Dh146.3 billion, exhibiting 62 percent year-on-year (YoY) growth.
Emaar earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 30 percent YoY to Dh10.4 billion.
Following the upgrade in Emaar’s credit rating by S&P Global to BBB+, in Q2 2025 Moody’s has also raised Emaar’s credit rating to Baa1, both with stable outlooks.
Building on the solid foundation set in Q1 2025, the company reported sustained growth across all core business segments in the second quarter. The continued strength in property sales, a growing revenue backlog, and improved profitability reflect Emaar’s focused strategy, strong brand equity, and the enduring demand for its master-planned communities and lifestyle offerings.
Mohamed Alabbar, founder of Emaar, said, “Numbers alone don’t tell the full story. Behind every sale, every project, every community, there’s intent. There’s a team asking: how can we do better? How can we make someone’s everyday more meaningful? First half of 2025 reflects that mindset. The focus goes beyond meeting targets to creating lasting impact and fostering stronger connections that inspire continuous growth.”
Emaar Development delivered impressive results in both property sales and construction progress. It launched 25 projects across prime master communities. Property sales reached Dh40.6 billion in H1 2025. It reported revenue of Dh10 billion, achieving a growth of 35 percent YoY, and a net profit before tax of Dh5.5 billion, up by 50 percent compared to H1 2024.
The consolidated revenue of Emaar Properties from its property development business in the UAE during H1 2025 increased to Dh13.5 billion, up 50 percent from same period last year.
Revenue backlog from UAE developments reached Dh128.6 billion as of 30 June 2025, marking a 50 percent increase over H1 2024 and underscoring sustained market interest in premium lifestyle offerings across Dubai.
Emaar’s shopping malls and leasing portfolio delivered a strong performance with revenue of Dh3.2 billion in H1 2025, up 14 percent year-on-year, and EBITDA of Dh2.8 billion, an increase of 18 percent compared to H1 2024. This growth was driven by continued growth in tenant sales and sustained healthy occupancy across key assets resulting in increased rental income. As of 30 June 2025, mall assets maintained an average occupancy of 98 percent.
Emaar’s international operations recorded property sales of Dh5.3 billion in H1 2025, marking an increase of 200 percent over H1 2024 driven by continued demand across key markets, and revenue reached to Dh1 billion, up 26 percent compared to the same period last year. The performance of international operations was primarily driven by strong demand for real estate assets in India and Egypt. Revenue from international real estate operations contributed about five percent of total revenue of Emaar in H1 2025.
Emaar’s hospitality, leisure, and entertainment businesses recorded revenues of Dh2.1 billion, supported by strong tourist activity and growing domestic demand. Emaar’s UAE hotels achieved an average occupancy rate of 80 percent in H1 2025, compared to 78 percent in the first half of 2024. The company added two hotels featuring over 600 keys in the first half of 2025, expanding its portfolio and strengthening its presence in the sector.
Emaar’s diverse and sustainable recurring revenue-generating portfolio, encompassing malls, hospitality, leisure, entertainment, and commercial leasing, achieved strong results in H1 2025. The portfolio recorded a revenue increase of 15 percent, reaching Dh5.3 billion during H1 2025, and an EBITDA of Dh4.1 billion achieving a growth of 16 percent compared to the same period last year. This portfolio continues to provide stable income streams and robust cash flows for Emaar. EBITDA from this portfolio constituted 40 percent of Emaar’s total EBITDA in H1 2025.
Ends
Also read: Emaar’s revenue sees 50% YoY surge to Dh10.1 bn in Q1 2025
