Emaar Properties PJSC, listed on the Dubai Financial Market (DFM), has reported a 16 per cent rise in property sales to AED 22.4 billion ($6.1 billion) in the first quarter of 2026, as revenue from its development and recurring income businesses grew across all segments.
Total revenue for the three months to March 31, 2026 reached AED 12.4 billion ($3.4 billion), a 23 per cent increase on the same period last year. EBITDA grew at a faster rate, rising 34 per cent to AED 7.2 billion ($2 billion), reflecting what the company described as operating leverage and cost discipline.
“Our performance in the first quarter of 2026 reflects the strength and resilience of the UAE economy, which continues to provide a stable foundation despite broader regional volatility. Recent geopolitical developments in the region have reinforced the importance of operating in markets defined by safety, institutional continuity, and long-term vision. The UAE’s stability is the result of decades of wise leadership, sustained investment in world-class infrastructure, and a clear, business-friendly policy environment. The sustained trust of our customers and investors enables us to maintain momentum, and we remain focused on delivering high-quality developments, operational discipline, and long-term value through a diversified and resilient business model,” Mohamed Alabbar, founder of Emaar said in a statement.
Net profit before tax for the period also reached AED 7.2 billion ($2 billion), up 33 per cent year-on-year. After tax, net profit for the period stood at AED 6.4 billion ($1.7 billion), a 38 per cent increase on Q1 2025. Earnings per share attributable to owners of the company rose to AED 0.57, compared with AED 0.42 in the prior year period.
The group’s revenue backlog – the value of contracted but not yet recognised sales – stood at AED 163.4 billion ($44.5 billion) as of 31 March 2026, a 29 per cent increase year-on-year. The backlog provides the company with forward revenue visibility across its development pipeline in the UAE and internationally.
Dubai developer Emaar launches 10 new projects in Q1 2026 amid record sales
Emaar’s UAE build-to-sell property business, operated through its listed subsidiary Emaar Development PJSC, posted property sales of AED 20.1 billion ($5.5 billion) in the quarter, up 22 per cent year-on-year.
Emaar Development reported revenue of AED 6.9 billion ($1.9 billion), a 36 per cent increase, while net profit before tax at the subsidiary level rose 46 per cent to AED 4.0 billion ($1.1 billion). Including other UAE-based development operations such as Dubai Creek Harbour, total revenue from UAE property development reached AED 8.9 billion ($2.4 billion). The UAE development revenue backlog stood at AED 143.3 billion ($39 billion) at the end of the quarter.
During the period, the group launched ten new projects across its communities, including The Heights Country Club & Wellness, a nature-led development centred on wellness and residential lifestyle.
Emaar’s international development business, led by its operations in Egypt, recorded property sales of AED 2.3 billion ($0.6 billion) and revenue of AED 0.7 billion ($0.18 billion), up five per cent year-on-year. International development represented approximately 5.3 per cent of total group revenue in the quarter.
The shopping malls, retail, and commercial leasing portfolio delivered revenue of AED 1.8 billion ($0.5 billion), up 15 per cent year-on-year, with EBITDA of AED 1.5 billion ($0.4 billion), up 16 per cent. Average occupancy across the portfolio reached 98 per cent as of March 31, 2026.
The hospitality, leisure, and entertainment portfolio recorded revenue of AED 1.0 billion ($0.3 billion), broadly in line with the same period in 2025. The company noted that performance in March was affected by the ongoing regional situation, without providing further details. Average hotel occupancy across the UAE stood at 69 per cent in the quarter.
Emaar’s recurring revenue portfolio – which spans malls, hotels, leisure, entertainment, and commercial leasing – generated AED 2.8 billion ($0.8 billion) in the quarter, up seven per cent year-on-year. Recurring revenue EBITDA reached AED 2.2 billion ($0.6 billion), also up seven per cent. The recurring income stream contributed approximately 30 per cent of total group EBITDA in the period.
Emaar pays $2.4bn dividend for second year running as profits rise
Emaar declared and distributed a dividend equivalent to 100 per cent of its share capital, amounting to AED 8.9 billion ($2.4 billion). The company said this marked the second consecutive year of such a payout to shareholders.
The group holds a land bank of approximately 600 million square feet of mixed-use development opportunities, of which around 317 million square feet is located in the UAE. Emaar has delivered more than 129,100 residential units in Dubai and other global markets since 2002, and operates 41 hotels and resorts with over 10,000 keys, as well as approximately 1.4 million square metres of leasing assets.
The company said it continued to advance its ESG agenda during the quarter, with progress on its Net Zero 2050 Strategy and an expansion of renewable energy initiatives. Emaar also reported investment in Emirati talent programmes and employee well-being initiatives, as well as measures to manage community impact during periods of adverse weather.
Emaar said it remained committed to disciplined capital allocation and converting its backlog into revenue, while continuing to monitor macroeconomic and geopolitical conditions. The group said its record backlog, recurring income base, and pipeline of development projects positioned it for continued growth in the coming quarters.
