Latest news with #EmaarDevelopment
Khaleej Times
a day ago
- Business
- Khaleej Times
UAE: Strong sales push Emaar's profit to Dh10.4 billion during first 6 months of 2025
Emaar Properties on Wednesday announced net profit before tax increased to Dh10.4 billion in the first half of 2025, a growth of 34 per cent compared to the same period last year, driven by robust performance across development, retail, hospitality, and international operations. The master developer reported revenue increasing to Dh19.8 billion, marking a growth of 38 per cent over the same period last year. Its property sales jumped 46 per cent year-on-year to Dh46 billion in H1 2025, surpassing previous sales records. Its revenue backlog from property sales grew to Dh146.3 billion as of June 30, 2025, representing a 62 per cent increase year-on-year. 'Numbers alone don't tell the full story. Behind every sale, every project, every community, there's intent. There's a team asking: how can we do better? How can we make someone's everyday more meaningful? The first half of 2025 reflects that mindset. The focus goes beyond meeting targets to creating lasting impact and fostering stronger connections that inspire continuous growth,' said Mohamed Alabbar, founder of Emaar. Following the upgrade in Emaar's credit rating by S&P Global to BBB+ in the second quarter of 2025, Moody's also raised Emaar's credit rating to Baa1, both with stable outlooks on the back of its strategy and sustained performance. Emaar Development Emaar Development – a subsidiary of Emaar Properties – launched 25 new projects across prime master communities, with property sales reaching Dh40.6 billion, reflecting a 37 per cent surge over the same period last year. Emaar Development reported revenue of Dh10 billion, achieving a growth of 35 per cent year-on-year, and a net profit before tax of Dh5.5 billion, up by 50 per cent compared to the first half of 2024. The consolidated revenue of Emaar Properties from its property development business in the UAE during H1 2025 increased to Dh13.5 billion, up 50 per cent from the same period last year. Revenue backlog from UAE developments reached Dh128.6 billion as of June 30, 2025, marking a 50 per cent increase over H1 2024. 'Rather than reacting to market shifts, Emaar is actively shaping what the future of urban living looks like… We are creating spaces that reflect the aspirations of today and the possibilities of tomorrow, and this is how we turn growth into legacy,' he said. Malls, hospitality, leisure Emaar's shopping malls and leasing portfolio delivered a revenue of Dh3.2 billion in H1 2025, up 14 per cent year-on-year, and EBITDA of Dh2.8 billion, an increase of 18 per cent compared to H1 2024. This growth was driven by continued growth in tenant sales and sustained healthy occupancy across key assets, resulting in increased rental income. As of June 30, 2025, its mall assets maintained an average occupancy of 98 per cent. The Dubai-based master developer's hospitality, leisure, and entertainment businesses recorded revenues of Dh2.1 billion, supported by strong tourist activity and growing domestic demand. Emaar's UAE hotels achieved an average occupancy rate of 80 per cent in H1 2025, compared to 78 per cent in the first half of 2024. The company added two hotels featuring over 600 keys in the first half of 2025, expanding its portfolio and strengthening its presence in the sector. In addition, Emaar's malls, hospitality, leisure, entertainment, and commercial leasing recorded a revenue increase of 15 per cent, reaching Dh5.3 billion during H1 2025, and an EBITDA of Dh4.1 billion, a growth of 16 per cent year-on-year. Its international operations recorded property sales of Dh5.3 billion in H1 2025, marking an increase of 200 per cent over H1 2024, driven by continued demand across key markets, and revenue reached Dh1 billion, up 26 per cent.
Zawya
a day ago
- Business
- Zawya
Dubai-listed Emaar Properties reports 33% YoY profit growth in H1
The Dubai-listed developer Emaar Properties posted a net profit attributable of 7.08 billion UAE dirhams ($1.9 billion) for H1 2025, marking a 33% year-on-year (YoY) increase, driven by robust property sales. Revenue rose 38% YoY to AED 19.8 billion, supported by strong performance across its development, retail, hospitality, and international segments. The company's revenue backlog from property sales surged 62% YoY to AED 146.3 billion as of June-end. Emaar Development Emaar's majority-owned subsidiary, Emaar Development, reported a 50% YoY rise in net profit (before tax) to AED 5.5 billion for H1 2025. Revenue grew 35% YoY to AED 10 billion, while its revenue backlog climbed 59% YoY to AED 117.7 billion as of June 30. The build-to-sell property development arm recorded a 37% YoY increase in property sales, reaching AED 40.6 billion. (Writing by Brinda Darasha; editing by Bindu Rai)
Khaleej Times
09-06-2025
- Business
- Khaleej Times
Dubai property market to see slower handover in 2025–26; sharp rise expected in 2027
The Dubai property market is expected to experience a notable slowdown in residential unit handovers in 2025 and 2026, falling short of anticipated supply, according to a new report by Morgan's International Realty. The real estate firm estimates that only 62 per cent of the expected residential supply for 2025 will be delivered. Out of an anticipated 37,171 units, only 22,896 are projected to reach completion. The outlook is even more subdued for 2026, with just 48 per cent — or 34,740 out of 71,613 forecasted units — expected to be completed. In total, in both years, only 57,636 of the projected 108,784 units are likely to be delivered, representing a combined completion rate of approximately 53 per cent. These figures reflect a persistent trend. Stay up to date with the latest news. Follow KT on WhatsApp Channels. According to Fitch Ratings, from 2022 to 2024, only 97,000 out of the 174,000 projected units were delivered — a completion rate of 56 per cent. Fitch attributes the lag in deliveries to factors such as difficulty in securing quality contractors, project sales timelines, funding delays from banks, and buyer payment issues. 'The rate of new unit delivery is influenced by various factors, including the availability of skilled labor and reliable contractors. Leading developers such as Emaar Development have a strong track record of timely project completion,' Fitch noted. Dubai's real estate market has witnessed a surge in demand in recent years, pushing both prices and rents to record highs. This growth has spurred unprecedented levels of property transactions. In the past year alone, Dubai recorded 226,000 transactions worth a combined Dh761 billion — a 36 per cent increase in volume and a 20 pe cent rise in value year-on-year. Despite the influx of new developers entering the market, there remains a shortage of qualified contractors due to the sheer volume of projects launched over the past four years. Key delivery areas in 2025-26 Morgan's International Realty's Dubai Residential Supply and Delivery Outlook 2025–2027 report identifies the primary areas for residential handovers. In 2025, most new units will be delivered in Studio City, Sobha Hartland, Jumeirah Village Circle (JVC), Jumeirah Lake Towers (JLT) and Al Furjan. For 2026, deliveries will be concentrated in JVC, Azizi Venice, Damac Lagoons, Business Bay and Arjan. Surge in 2027 supply The report projects a significant spike in residential deliveries in 2027, with approximately 70,537 units expected — nearly double Dubai's five-year average of 35,531 units per year. The bulk of this new supply will be located in JVC, Business Bay, Azizi Venice, Dubai Hills Estate and Creek Harbour. 'Jumeirah Village Circle remains the most active development zone across all three years, with 16,852 units scheduled for delivery between 2025 and 2027. This concentration of supply may exert downward pressure on prices due to potential oversupply,' said Elias Hannoush, Managing Director of Morgan's International Realty. Business Bay follows with 10,127 units, while Azizi Venice will see 7,860 units completed during the same period. The elevated supply in these areas could significantly impact pricing and absorption dynamics in the coming years.
Zawya
30-05-2025
- 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
30-05-2025
- 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)
