Emaar Q1 profit jumps 33% as Dubai property demand stays strong

Dubai: Emaar Properties reported a 33% rise in first-quarter net profit before tax on Monday, supported by strong property sales in the UAE and growth across its malls and leasing businesses.

The Dubai-listed developer said net profit before tax reached Dh7.2 billion ($2 billion) in the three months ended March 31, while revenue rose 23% year-on-year to Dh12.4 billion. EBITDA increased 34% to Dh7.2 billion.

Property sales climbed 16% to Dh22.4 billion during the quarter, driven by demand across established communities and new project launches in the UAE, the company said. Its revenue backlog rose 29% year-on-year to Dh163.4 billion, providing visibility for future earnings.

Founder Mohamed Alabbar said the results reflected the resilience of the UAE economy despite regional geopolitical tensions.

“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,” Alabbar said in a statement.

Growth at Emaar Development

Emaar’s UAE build-to-sell property business, led by subsidiary Emaar Development, recorded sales of Dh20.1 billion, up 22% from a year earlier. Revenue at the unit increased 36% to Dh6.9 billion, while net profit before tax rose 46% to Dh4 billion.

The company launched 10 projects during the quarter, including The Heights Country Club & Wellness, a master-planned residential development focused on wellness and green living.

Revenue from Emaar’s malls, retail and commercial leasing business rose 15% to Dh1.8 billion, with average occupancy across the portfolio reaching 98%. Hospitality, leisure and entertainment revenue was broadly flat at Dh1 billion, with the company citing weaker performance in March due to the regional situation.

Recurring revenue from malls, hospitality and commercial leasing assets increased 7% to Dh2.8 billion and contributed around 30% of total EBITDA during the quarter.

Emaar said it had recently distributed a dividend of Dh8.9 billion, equivalent to 100% of its share capital, marking the second consecutive year of such a payout.