Emaar revenue rises 21% to AED23.9 billion

DUBAI: Emaar Properties PJSC delivered a resilient performance during the first half of 2026, with revenue up 21 percent to AED23.9 billion (US$ 6.5 billion), EBITDA up 24 percent to AED12.9 billion (US$ 3.5 billion), and net profit before tax up 23 percent to AED12.8 billion (US$ 3.5 billion). Building on its performance during the first quarter, Emaar continued to deliver balanced contributions across its development, recurring income, and international businesses. Property Sales recorded approximately AED26.6 billion (US$ 7.2 billion) during H1 2026. Revenue backlog from property sales reached approximately AED164.9 billion (US$ 44.9 billion) as of 30th June 2026, reflecting an increase of 13 percent year-on-year and providing strong visibility for future revenue recognition. Emaar has one of the region's largest and most diversified master-planned land banks, comprising approximately 590 million sq. ft. of mixed-use development opportunities, including approximately 316 million sq. ft. within the UAE. Mohamed Alabbar, founder of Emaar, said, "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." He added, "We remain grateful for the vision of our leadership and forward-looking approach to economic development, which has fostered a stable, transparent, and business-friendly environment. This confidence in leadership continues to attract capital and talent even amid a more uncertain global backdrop. This stability remains a fundamental enabler of Emaar's long-term growth." Emaar Development PJSC reported revenue of AED13.3 billion (US$ 3.6 billion), increasing by 34 percent year-on-year, while net profit before tax reached AED7.8 billion (US$ 2.1 billion), reflecting growth of 41 percent compared to the same period last year. Emaar Development’s consolidated revenue from property development operations in the UAE reached AED17.7 billion (US$ 4.8 billion), up 30 percent year-on-year. Revenue backlog from projects under development in the UAE stood at AED135.7 billion (US$ 36.9 billion) as of 30th June 2026, representing an increase of 6 percent compared to H1 2025, providing strong visibility and de-risked future revenue recognition. During the first half of the year, Emaar strategically expanded its residential portfolio with 11 targeted launches across Emaar South, Dubai Hills Estate, The Heights Country Club, The Oasis, Rashid Yachts & Marina, and Expo Living masterplans. Emaar also announced a new landmark AED200 billion masterplan, further strengthening the Group's long-term development pipeline and reinforcing its confidence in Dubai's continued growth. Emaar's international development business continued to contribute to the Group's diversified earnings profile, with performance supported by continued operational execution across its key markets, particularly Egypt and India. Property sales reached AED4.2 billion (US$ 1.1 billion), while revenue stood at AED1.1 billion (US$ 0.3 billion), up 8 percent year-on-year, contributing approximately 4.6 percent of the Group's total revenue during H1 2026. Emaar's shopping malls, retail, and commercial leasing portfolio maintained its solid performance during the first half of 2026, revenue reaching AED3.5 billion (US$ 1.0 billion), representing growth of 9 percent compared to H1 2025. EBITDA reached AED3.1 billion (US$ 0.8 billion), increasing by 10 percent year-on-year. Average occupancy across the portfolio stood at approvimately 98 percent as of 30th June 2026. Emaar's hospitality, leisure, and entertainment portfolio remained a meaningful contributor in H1 2026, , generating revenue of AED1.6 billion (US$ 0.4 billion), while the Group’s hotels in the UAE achieved average occupancy of 60 percent during H1 2026. Emaar's diversified recurring revenue portfolio remained a key contributor to earnings resilience and cash flow generation during the first half of 2026. Supported by a high-quality portfolio of shopping malls, hospitality, leisure, entertainment, and commercial leasing assets, the portfolio provides a stable and visible income stream that supports the Group's long-term growth. Recurring revenue reached AED5.1 billion (US$ 1.4 billion), similar to H1 2025, while recurring revenue EBITDA sytood at AED4.0 billion (US$ 1.1 billion), similar to H1 2025.