Emaar, DAMAC, Sobha Realty: Dubai developers bet big on overseas growth

Dubai: Dubai’s top developers are no longer content just shaping the city’s skyline. Increasingly, they are looking outward — to other emirates, international markets, and even entirely new industries. The trend signals a clear strategy: diversify, grow globally, and reduce reliance on Dubai’s property cycle.

For years, Dubai has been the engine driving these companies’ growth. Emaar, DAMAC, and Sobha Realty have all benefited from soaring property prices, rising demand for luxury homes, and a boom in foreign investment. But now, they are casting a wider net, seeing opportunities not just in neighboring emirates but across the world.

Emaar, the developer behind the Burj Khalifa, is making its most ambitious move yet. Domestic property sales hit Dh46 billion in the first half of 2025, up 46% year-on-year, providing the cash flow and confidence to look beyond the UAE.

Founder Mohamed Alabbar told the Financial Times that the board is exploring a global acquisition strategy, eyeing markets such as the US, India, China, and Europe. Rather than building new operations from scratch, he prefers acquiring established developers.

Josh Gilbert, market analyst at eToro, sees the approach as a smart move. “Buying into established developers offers a quicker route to market,” he said. “It reduces project lead times, helps navigate regulatory environments, and gives Emaar access to supply chains and local know-how.”

Emaar’s low debt levels and Dh146 billion project backlog give it flexibility, but international expansion is not without risks. Past ventures in Egypt and Saudi Arabia faced regulatory and operational challenges, reminding investors that overseas success is not guaranteed.

DAMAC Properties, led by Hussain Sajwani, is taking expansion to a new level — and beyond traditional real estate. The company recently announced a $20 billion plan to build state-of-the-art data centers across the US, spanning Texas, Arizona, and Oklahoma. This move marks a bold diversification into high-growth sectors outside property.

At the same time, DAMAC continues to grow its luxury real estate and hospitality presence abroad. In London, the company has branded residential projects such as DAMAC Tower Nine Elms. In the Maldives, it is developing a luxury resort in partnership with Mandarin Oriental.

DAMAC’s strategy combines high-end brand partnerships with new business ventures. Collaborations with Versace, Cavalli, and de GRISOGONO allow the company to attract affluent buyers globally while exploring high-return sectors like data infrastructure.

Sobha Realty is taking a bold step beyond the UAE, targeting both domestic and international growth. In the UAE, the developer is working on projects in Umm Al Quwain, including Al Siniyah Island, while preparing new developments in Abu Dhabi.

Abroad, Sobha has set its sights on Dallas, Texas, with plans to expand further in the U.S., particularly Virginia. The company has opened a U.S. office and aims for $1 billion in sales in its first year, with a long-term goal of $10 billion over the next decade. Previous targets include Austin and Houston, signaling a serious push into key Texas markets.

Sobha’s strength lies in its “backward integration” model, which gives it full control over every step of construction, from design to delivery. Bringing this model to international markets helps the company maintain quality, efficiency, and consistency while scaling a multi-billion-dollar growth pipeline.

Not all developers are pursuing international growth. Nakheel continues to focus on Dubai, expanding large-scale waterfront and community projects, including Dubai Islands and the expansion of Palm Jebel Ali.

Meraas, part of Dubai Holding since 2020, is consolidating its land bank with lifestyle-oriented developments such as The Acres, Nad Al Sheba Gardens, City Walk, and Jumeira Bay.

These companies highlight that growth strategies vary: some see global expansion as essential, while others are betting on Dubai’s market depth and ongoing real estate cycle.

Emaar, DAMAC, and Sobha Realty are leading a wave of Dubai developers looking outward. Emaar aims to become a worldwide real estate player. DAMAC is branching into entirely new sectors. Sobha is testing its integrated construction model internationally.

Together, these moves mark a pivotal moment for Dubai’s property industry. Developers are balancing the strength of a booming home market with the ambition and risk of international expansion. The next few years could determine not only who dominates the UAE but which of these companies will emerge as a global player.

For investors, the message is clear: Dubai’s developers are no longer just making local market bets. Their success increasingly depends on navigating global markets, forming partnerships abroad, and executing acquisitions that match the scale and efficiency of their domestic operations. The winners will be those who can combine Dubai’s proven track record with smart, disciplined expansion overseas.