Emaar Strengthens Q1 2026 Performance with 23% Revenue Growth to AED 12.4 Billion (US$ 3.4 Billion)

Dubai, United Arab Emirates: Emaar Properties PJSC (DFM: EMAAR) reported a robust performance for the first quarter of 2026, achieving a 23% increase in revenue to AED 12.4 billion (US$ 3.4 billion). This growth is attributed to sustained demand across its core segments, disciplined execution, and a diversified business model.

Financial Highlights

Emaar’s financial results for Q1 2026 reflect a strong earnings profile, with notable growth across both development and recurring-income sectors. The company’s EBITDA surged by 34% to AED 7.2 billion (US$ 2 billion), while net profit before tax also rose by 33% to AED 7.2 billion (US$ 2 billion). This performance underscores the effectiveness of Emaar’s operational strategies, which include maintaining a stable base of recurring revenues and robust operational performance.

The quarter was marked by significant sales activity, particularly in the UAE development sector, alongside healthy occupancy rates in malls and commercial assets. Emaar’s focus on disciplined capital allocation and operational excellence continues to drive profitable growth.

Sales and Backlog Growth

Property sales reached approximately AED 22.4 billion (US$ 6.1 billion) in Q1 2026, reflecting a 16% increase compared to the same period last year. This growth was fueled by strong demand in established communities and new project launches across the UAE.

As of March 31, 2026, Emaar’s revenue backlog stood at approximately AED 163.4 billion (US$ 44.5 billion), marking a 29% year-on-year increase. This substantial backlog provides strong revenue visibility for the upcoming years.

Dividend Distribution and Land Bank

Emaar declared a dividend equivalent to 100% of its share capital, amounting to AED 8.9 billion (US$ 2.4 billion). This marks the second consecutive year of such a payout, reflecting the company’s commitment to returning value to shareholders.

The company’s land bank comprises approximately 600 million sq. ft. of mixed-use development opportunities, with about 317 million sq. ft. located in the UAE. This strategically positioned land reserve supports Emaar’s ongoing expansion and long-term value creation.

Commitment to Customer Experience and Sustainability

Emaar continues to prioritize customer experience through quality delivery and innovative developments. The company has implemented proactive measures to ensure safety and minimize disruption during adverse weather conditions, reinforcing community trust across its destinations.

In addition to customer focus, Emaar is advancing its Environmental, Social, and Governance (ESG) agenda. The company is committed to responsible development practices and reducing long-term environmental impact, including progress on its Net Zero 2050 Strategy and the expansion of renewable energy initiatives.

Sector Performance

UAE Build-To-Sell Property Development

Emaar Development PJSC (DFM: EMAARDEV) reported strong performance in the UAE build-to-sell property development sector, with property sales reaching AED 20.1 billion (US$ 5.5 billion), a 22% increase year-on-year. Revenue from Emaar Development was AED 6.9 billion (US$ 1.9 billion), up 36%, while net profit before tax increased to AED 4.0 billion (US$ 1.1 billion), marking a 46% rise.

Including other UAE-based development operations, such as Dubai Creek Harbour, total revenue from UAE property development reached AED 8.9 billion (US$ 2.4 billion). The revenue backlog for UAE development projects stood at AED 143.3 billion (US$ 39 billion) as of March 31, 2026.

International Development

Emaar’s international development business contributed to the group’s diversification and growth, particularly in Egypt. Property sales from international operations reached AED 2.3 billion (US$ 0.6 billion), with revenue from these operations totaling AED 0.7 billion (US$ 0.18 billion), a 5% increase year-on-year.

Malls, Retail, and Commercial Leasing

Emaar’s malls, retail, and commercial leasing portfolio demonstrated resilience, with revenue reaching AED 1.8 billion (US$ 0.5 billion), up 15% year-on-year. EBITDA for this segment was AED 1.5 billion (US$ 0.4 billion), reflecting a 16% increase. The average occupancy rate across the portfolio was 98% as of March 31, 2026.

Hospitality, Leisure, and Entertainment

The hospitality, leisure, and entertainment segment maintained stable performance, generating revenue of AED 1.0 billion (US$ 0.3 billion), consistent with Q1 2025. The average hotel occupancy in the UAE was 69% during this period.

Recurring Revenue

Emaar’s recurring revenue portfolio remained a key source of earnings resilience, with total recurring revenue reaching AED 2.8 billion (US$ 0.8 billion), a 7% increase year-on-year. This segment contributed approximately 30% of total EBITDA in Q1 2026.

Emaar’s strategic positioning and strong market fundamentals position the company for continued growth, supported by a high-quality development pipeline and a record revenue backlog. The Group remains committed to disciplined execution and prudent capital allocation.

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Published on 2026-05-11 10:46:00 • By the Editorial Desk