Latest news with #EmaarDevelopment
Zawya
3 days ago
- Business
- Zawya
Dubai's project delivery delays may ‘smooth' rise in supply: Fitch
Dubai could experience delivery delays, which may help 'smooth' the rise in supply, Fitch Ratings said in a report. The observation is based on the previous completion rates of some major projects. Over 2022–2024, 174,000 units were projected to be delivered, while the actual new supply was 97,000 units, a completion rate of only 56 percent, the rating agency said. The rate of delivery of new units depends on multiple factors, including the availability of skilled labour and contractors. While highly rated developers, such as Emaar Development, have a record of delivering projects on schedule, the off-plan sector is subject to regulatory oversight regarding the rate of new units entering the market. Fitch expects rising deliveries will lead to a record increase in supply, but 'natural' demand, driven by population growth, will be lagging. The stock of residential supply could grow on average by 16 percent over 2025–2027, assuming there are no delays in deliveries, compared with forecasted population growth of 5 percent, the rating agency said. (Writing by P Deol; Editing by Anoop Menon) (
Zawya
3 days ago
- Business
- Zawya
Dubai Emaar Development acquires land for $798mln
Emaar Development, the construction arm of Dubai's largest listed real estate firm, Emaar Properties, has acquired a plot of land in Ras Al Khor, where it plans to launch real estate projects to capitalise on the continued boom in the emirate's property market. The land was acquired from Amlak Property Investment for 2.9 billion dirhams ($789 million), plus associated transaction cost. The acquisition, which will add to the developer's land bank, will be financed through internal resources. The full purchase price will be paid upon transfer of the land, expected by 31 July 2025. Emaar Development, a major player in Dubai's real estate market, is known for its large-scale master-planned communities, including Downtown Dubai, Dubai Marina, and Dubai Creek Harbour. The company, which delivers build-to-sell (BTS) assets, launched 12 projects across its master plans in the UAE in Q1 2025. (Writing by Brinda Darasha; editing by Daniel Luiz)
Arabian Business
3 days ago
- Business
- Arabian Business
Dubai's Emaar Development purchases land in Ras Al Khor for $790mn
Dubai real estate giant Emaar Development has purchased a large tract of land 'with future development potential' in the Ras Al Khor area from Amlak Property Investment for AED2.9 billion ($790 million) plus associated transaction charges. This was disclosed by the company to the Dubai Financial Market (DFM), where the company's shares are listed. Emaar already has a hugely successful mega development in Ras Al Khor area – the Dubai Creek Harbour. The project is renowned for its stunning views of Burj Khalifa and the Dubai skyline and is situated near the tranquil Ras Al Khor Wildlife Sanctuary. 'Land purchase will support the company's strategic growth objective,' Emaar said in the disclosure. 'Acquiring this land will enable the company to expand its land bank portfolio and initiate new real estate projects aligning with its core business.' Emaar expects the transaction to be completed by 31 July this year. It will reflect in the company's Q2 or Q3 results. Emaar also added that it would fund the acquisition internally.
Mid East Info
08-05-2025
- Business
- Mid East Info
Emaar Development records 28% growth in Property Sales reaching to AED 16.5 billion (US$ 4.5 billion); Backlog crosses AED 100 billion (US$ 27 billion)
Emaar Development's Revenue increased by 43% to AED 5 billion (US$ 1.4 billion) EBITDA increased by 48% to AED 2.5 billion (US$ 683 million), EBITDA margin of 50%. Net Profit before tax increased by 49% to AED 2.8 billion (US$ 753 million); a net margin of 55%. Dubai, United Arab Emirates – May 2025: Emaar Development PJSC (DFM: EMAARDEV), the UAE's premier property development company specialising in the build-to-sell property development business, and a majority-owned subsidiary of Emaar Properties PJSC (DFM: EMAAR), achieved robust results in Q1 2025 (January to March), reflecting its commitment to operational excellence, innovation, and customer satisfaction. Key Highlights of the Results: Sales Growth: Emaar Development achieved property sales of AED 16.5 billion (US$ 4.5 billion); an increase of 28% over Q1 2024 sales of AED 12.9 billion (US$ 3.5 billion). The success of 12 projects launches across all the masterplans during Q1 2025 further underscores Emaar's market leadership and positions the company for sustained future growth. Backlog Growth: Enhanced by record sales during Q1 2025, revenue backlog reached to AED 100.1 billion (US$ 27.3 billion) as of 31 March 2025; an increase of 52% from Q1 2024 indicating a significant increase in revenue in the forthcoming years. Revenue Growth: Emaar Development recorded Revenue of AED 5 billion (US$ 1.4 billion) in Q1 2025, a 43% increase compared to Q1 2024. Profitability: The company recorded Net Profit (before tax) of AED 2.8 billion (US$ 753 million) ; an increase of 49% as compared to Q1 2024. ; an increase of 49% as compared to Q1 2024. Customer Satisfaction: Emaar remains focused on delivering high-quality services, ensuring strong customer satisfaction and fostering lasting relationships. Sustainability: The company continues to implement sustainable practices in resource use, waste management, and environmental stewardship. Mohamed Alabbar, founder of Emaar, stated: 'The results we've achieved in Q1 2025 underscore our bold approach to redefining the future of real estate. This is not just about financial growth—it's about reshaping the way people experience living, working, and thriving in our communities. Our focus on long-term sustainability, cutting-edge design, and seamless customer experiences has allowed us to stay ahead of the curve, even in a rapidly changing market.' He added: 'Looking ahead, we are more committed than ever to fostering innovation in every aspect of our business. Our success in this first quarter is just the beginning, and we are ready to set new benchmarks in quality, connectivity, and community development, ensuring that Emaar continues to play a transformative role in Dubai's vision for the future.' About Emaar Development PJSC: Emaar Development is a developer of prime residential and commercial build-to-sell (BTS) assets in the UAE. The company is behind iconic freehold master-planned communities in Dubai, including Emirates Living, Downtown Dubai, Dubai Marina, Arabian Ranches, Dubai Creek Harbour, Dubai Hills Estate, Emaar South, Rashid Yachts & Marina, The Valley and The Oasis. It has delivered 76,000 residential units since 2002. The company has a sales backlog of over AED 100 billion. It is a high cash flow generating business, highlighting the company's robust fundamentals with over 43,500 residential units under development to be delivered.
Zawya
08-05-2025
- Business
- Zawya
Emaar Development records 28% growth in property sales reaching to AED 16.5bln
Emaar Development's Revenue increased by 43% to AED 5 billion (US$ 1.4 billion) EBITDA increased by 48% to AED 2.5 billion (US$ 683 million), EBITDA margin of 50%. Net Profit before tax increased by 49% to AED 2.8 billion (US$ 753 million); a net margin of 55%. Dubai, United Arab Emirates: Emaar Development PJSC (DFM: EMAARDEV), the UAE's premier property development company specialising in the build-to-sell property development business, and a majority-owned subsidiary of Emaar Properties PJSC (DFM: EMAAR), achieved robust results in Q1 2025 (January to March), reflecting its commitment to operational excellence, innovation, and customer satisfaction. Key Highlights of the Results: Sales Growth: Emaar Development achieved property sales of AED 16.5 billion (US$ 4.5 billion); an increase of 28% over Q1 2024 sales of AED 12.9 billion (US$ 3.5 billion). The success of 12 projects launches across all the masterplans during Q1 2025 further underscores Emaar's market leadership and positions the company for sustained future growth. Backlog Growth: Enhanced by record sales during Q1 2025, revenue backlog reached to AED 100.1 billion (US$ 27.3 billion) as of 31 March 2025; an increase of 52% from Q1 2024 indicating a significant increase in revenue in the forthcoming years. Revenue Growth: Emaar Development recorded Revenue of AED 5 billion (US$ 1.4 billion) in Q1 2025, a 43% increase compared to Q1 2024. Profitability: The company recorded Net Profit (before tax) of AED 2.8 billion (US$ 753 million); an increase of 49% as compared to Q1 2024. Customer Satisfaction: Emaar remains focused on delivering high-quality services, ensuring strong customer satisfaction and fostering lasting relationships. Sustainability: The company continues to implement sustainable practices in resource use, waste management, and environmental stewardship. Mohamed Alabbar, founder of Emaar, stated: "The results we've achieved in Q1 2025 underscore our bold approach to redefining the future of real estate. This is not just about financial growth—it's about reshaping the way people experience living, working, and thriving in our communities. Our focus on long-term sustainability, cutting-edge design, and seamless customer experiences has allowed us to stay ahead of the curve, even in a rapidly changing market." He added: "Looking ahead, we are more committed than ever to fostering innovation in every aspect of our business. Our success in this first quarter is just the beginning, and we are ready to set new benchmarks in quality, connectivity, and community development, ensuring that Emaar continues to play a transformative role in Dubai's vision for the future." About Emaar Development PJSC: Emaar Development is a developer of prime residential and commercial build-to-sell (BTS) assets in the UAE. The company is behind iconic freehold master-planned communities in Dubai, including Emirates Living, Downtown Dubai, Dubai Marina, Arabian Ranches, Dubai Creek Harbour, Dubai Hills Estate, Emaar South, Rashid Yachts & Marina, The Valley and The Oasis. It has delivered 76,000 residential units since 2002. The company has a sales backlog of over AED 100 billion. It is a high cash flow generating business, highlighting the company's robust fundamentals with over 43,500 residential units under development to be delivered. For more information, please visit For more information and media queries: Marketing Department - Emaar PR@
