The company reported a net profit before tax of $753 million, up 49 percent
Dubai, UAE – Q1 2025
Emaar Properties, one of Dubai’s leading real estate developers, has posted remarkable financial results for the first quarter of 2025, registering revenue of AED 10.1 billion (USD 2.74 billion), which represents a 50% increase compared to the same quarter in 2024. The company also recorded an EBITDA of AED 5.4 billion (USD 1.5 billion)—a 24% rise year-on-year—maintaining a robust EBITDA margin of over 53%. Net profit before tax also reached AED 5.4 billion (USD 1.5 billion), up 27% from Q1 2024.
Emaar’s ongoing momentum from the previous year reflects its strong market presence, sustained performance, and ability to consistently set new benchmarks for the real estate sector. The developer continues to focus on long-term value creation and growth across all its verticals.
Surge in Property Sales and Revenue Backlog
Emaar’s property sales surged to approximately AED 19.3 billion (USD 5.3 billion) in Q1 2025—a 42% increase compared to AED 13.5 billion in Q1 2024. As of March 31, 2025, the company’s revenue backlog from property sales climbed to about AED 127 billion (USD 34.6 billion), reflecting a 62% year-on-year growth. This backlog points to significant revenue streams for the years ahead.
This performance highlights Emaar’s operational excellence and dedication to delivering high-quality real estate while maintaining a customer-centric philosophy.
Record Dividend and Strategic Focus
During the first quarter, Emaar distributed a record-breaking dividend of AED 8.9 billion (USD 2.4 billion) to shareholders. The group remains deeply committed to customer satisfaction, continuing to elevate standards in architectural design, product excellence, and community development.
Talent development is also a key strategic focus, with investments in training programs aimed at nurturing future leaders in the UAE. Alongside this, the company continues to enhance cost-efficiency and ensure optimal performance across all business segments.
Emaar is also prioritizing sustainability, with major initiatives in resource optimization, responsible sourcing, and waste management. These efforts earned Emaar its third ESG rating upgrade in four years by MSCI. Furthermore, S&P Global upgraded the company’s credit rating to BBB+ with a stable outlook, recognizing its strong financial foundation and growth trajectory.
Vision for the Future
Emaar’s Founder, Mohamed Alabbar, commented:
“Each quarter is a new opportunity to reimagine what’s possible—not only in construction but in leadership, creativity, and connection. These figures are not just metrics; they represent the drive of a team that never settles and a community that continuously pushes us forward. At Emaar, we don’t ride waves—we build them. Our strength lies in visionary people, curiosity-driven culture, and a shared purpose to shape the future.”
Property Development Sees Record Results
Emaar Development maintained strong momentum in Q1 2025, supported by the launch of 12 new projects across various master communities in the UAE. Property sales for the development division reached AED 16.5 billion (USD 4.5 billion), reflecting a 28% increase from Q1 2024.
Revenue for Emaar Development rose by 43%, reaching AED 5 billion, while net profit before tax grew 49% year-on-year to approximately AED 2.8 billion (USD 753 million). The consolidated revenue from Emaar’s UAE property development arm totaled AED 6.9 billion, including contributions from Dubai Creek Harbour.
Retail, Malls & Leasing Segment Performance
The company’s retail, malls, and commercial leasing operations generated AED 1.5 billion in revenue in Q1 2025, with EBITDA reaching AED 1.3 billion. Key factors include increased lease rental rates, rising tenant sales, and continued strong occupancy levels averaging 98% as of the end of March 2025.
International Real Estate Operations Continue to Thrive
Emaar’s international property operations recorded sales of AED 2.8 billion in the first quarter of 2025, with revenue from these markets amounting to AED 626 million. Key performance drivers were India and Egypt, which contributed significantly. International real estate revenue represented around 6% of total revenue during the period.
Growth in Hospitality, Leisure & Entertainment
The hospitality, leisure, and entertainment divisions posted AED 1.1 billion (USD 299 million) in revenue, supported by robust tourism activity and domestic demand. Emaar’s UAE hotels—including managed properties—achieved an average occupancy rate of 82% in Q1 2025.
Emaar also expanded its hospitality footprint, opening two new hotels with over 600 rooms, strengthening its hold in the premium hotel sector.
Sustainable Revenue and Portfolio Resilience
Emaar’s diverse, recurring revenue portfolio—spanning retail, hospitality, leisure, and leasing—generated AED 2.6 billion in revenue, marking an 11% growth from Q1 2024. The segment delivered AED 2 billion in EBITDA, accounting for approximately 37% of the group’s total EBITDA.
The company reaffirmed its focus on maintaining strong, stable income streams and ensuring cash flow efficiency across all business segments.
Conclusion
Emaar Properties’ impressive Q1 2025 results reaffirm its leadership in the real estate sector, fueled by innovation, strong financials, and a forward-thinking vision. With consistent growth across development, retail, hospitality, and international markets, Emaar is well-positioned for continued success and long-term stakeholder value.
