Emaar Properties PJSC, the Dubai-based property developer, has reported revenue of AED33.1 billion for the nine-month period ending September 30, 2025, representing an increase of 39 per cent compared to AED23.79 billion in the corresponding period of 2024.
The company recorded net profit of AED14.65 billion for the nine-month period, compared to AED11.05 billion in the same period last year, marking a 33 per cent increase.
Profit attributable to the owners of the company reached AED11.45 billion, up from AED8.52 billion in 2024, Emaar said in a filing.
Emaar Q3 2025 results show revenue of $3.62bn; real estate sales hit $7.05bn
For the three-month period ending September 30, 2025, Emaar reported revenue of AED13.27 billion, compared to AED9.39 billion in the third quarter of 2024. Net profit for the quarter stood at AED5.77 billion, up from AED4.21 billion in the same quarter of 2024.
The company reported earnings per share of AED1.30 for the nine-month period and AED0.49 for the third quarter.
The real estate segment generated revenue of AED25.87 billion in the nine-month period, compared to AED17.26 billion in 2024. Sales of residential units accounted for AED24.65 billion, whilst commercial units, plots of land and other sales contributed AED1.21 billion.
Revenue from leasing, retail and related activities reached AED5.63 billion for the nine months, up from AED5.12 billion in the corresponding period of 2024. For the third quarter alone, this segment generated AED1.74 billion.
The hospitality segment reported revenue of AED1.61 billion for the nine-month period, compared to AED1.41 billion in 2024. Third quarter hospitality revenue stood at AED514.7 million.
Emaar Properties profit before tax rises to $4.55bn
Emaar reported profit before tax of AED16.74 billion for the nine months, compared to AED12.43 billion in 2024. The company’s gross profit reached AED18.11 billion, representing a gross profit margin of 54.7 per cent.
Cost of revenue for the nine-month period totalled AED15 billion, up from AED10.16 billion in 2024.
The domestic segment, comprising operations in the United Arab Emirates, generated revenue of AED31.12 billion for the nine months, whilst the international segment contributed AED1.99 billion.
For the third quarter, domestic revenue reached AED12.53 billion and international revenue stood at AED740.7 million.
As at September 30, 2025, Emaar’s total assets stood at AED174.66 billion, compared to AED160.22 billion at December 31, 2024. Total equity reached AED99.38 billion, up from AED96.07 billion at year-end 2024.
Cash and cash equivalents increased to AED46.54 billion as at September 30, 2025, compared to AED38.63 billion at December 31, 2024. Total bank and cash balances, including fixed deposits, reached AED61.73 billion.
The company reported that bank and cash balances included AED44.18 billion representing advances received from customers against sale of development properties, deposited into escrow accounts.
Emaar development properties and capital investment
Development properties on the balance sheet stood at AED47.19 billion as at September 30, 2025, compared to AED45.1 billion at year-end 2024. The company incurred costs of AED15.37 billion on development properties during the nine-month period.
Capital expenditure on property, plant and equipment and investment properties totalled AED1.38 billion for the nine months.
The company paid a cash dividend of AED8.84 billion (AED1 per share) for 2024, as approved by shareholders at the Annual General Meeting held on March 25, 2025.
Interest-bearing loans and borrowings stood at AED3.57 billion as at September 30, 2025, compared to AED3.27 billion at year-end 2024. The company’s sukuk liability remained stable at AED6.42 billion.
Finance income for the nine-month period reached AED2.02 billion, up from AED1.58 billion in 2024. This included AED1.81 billion from bank deposits and securities.
Finance costs totalled AED676.3 million for the nine months, compared to AED670.2 million in the corresponding period of 2024.
Emaar Properties tax expense includes UAE top-up tax
The company recognised income tax expense of AED2.1 billion for the nine-month period, which included AED1.42 billion relating to the UAE Domestic Minimum Top-up Tax that came into effect from January 1, 2025.
Current income tax expense stood at AED732.8 million, whilst the UAE domestic minimum top-up tax accounted for AED1.42 billion. The group recorded a deferred tax credit of AED52 million.
On April 10, 2025, Emaar acquired the remaining non-controlling interest in Dubai Hills Estate District Cooling LLC, increasing its ownership from 50 per cent to 100 per cent. The consideration paid amounted to AED392.1 million in cash.
As at September 30 2025, the group had commitments of AED30.33 billion, which included project commitments of AED29.9 billion. These represent contracts entered into by the group, including land purchase contracts, net of invoices received and accruals made.
The company provided performance guarantees of AED 8.57 billion to the Real Estate Regulatory Authority for its projects as per RERA regulations.
Future minimum rentals receivable under non-cancellable operating leases on the investment property portfolio totalled AED16.04 billion.
This comprised AED4.87 billion receivable within one year, AED9.55 billion after one year but not more than five years, and AED1.63 billion receivable after five years.
The company’s authorised and issued share capital remained at AED8.84 billion, representing 8.84 billion shares of AED 1 each. The shares are traded on the Dubai Financial Market.
The interim condensed consolidated financial statements were reviewed by Ernst & Young Middle East (Dubai Branch), which issued an unmodified conclusion on November 6, 2025.
The consolidated financial statements for the year ended December 31, 2024 were audited by another auditor who expressed an unmodified opinion on February 14, 2025.
