Emaar Properties reported an 18 per cent increase in net profit before tax to Dh19.8 billion for the first nine months of 2026, supported by strong property sales, construction progress and growth across its recurring income businesses.
The Dubai-based developer recorded revenue of Dh37.5 billion for the nine months ended September 30, up 13 per cent from Dh33.1 billion during the corresponding period last year.
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Earnings before interest, taxes, depreciation and amortisation (Ebitda) rose 19 per cent year-on-year to Dh19.7 billion, with an Ebitdamargin of 53 per cent.
Emaar’s property sales reached Dh34.7 billion during the first nine months, while its revenue backlog from property sales increased 6 per cent year-on-year to Dh158.8 billion as of September 30, providing visibility for revenue recognition in the coming years.
The company launched 14 projects across its master-planned communities during the period and handed over more than 4,800 residential units in the UAE. More than 80 per cent of its active UAE projects were ahead of schedule as of the end of September.
Mohamed Alabbar, founder of Emaar, said the results reflected progress across the company’s construction sites, residential handovers and management of its destinations.
He said the company remained focused on delivering quality homes and ensuring that its communities continued to perform over time.
UAE drives growth
Emaar’s UAE property development business continued to be a major contributor to its performance, with property sales reaching Dh26.2 billion during the first nine months of 2026.
Emaar Development reported revenue of Dh22.2 billion, up 26 per cent year-on-year, while net profit before tax increased 28 per cent to Dh12.5 billion.
Including other UAE-based development operations, consolidated revenue from property development in the country reached Dh28.3 billion, an 18 per cent increase.
The UAE development business had a revenue backlog of Dh127.2 billion as of September 30.
During the period, Emaar Development awarded 23 main works contracts worth Dh13.5 billion and 43 infrastructure works contracts valued at Dh4.3 billion.
Emaar also said its land bank comprised approximately 604 million square feet of development opportunities, including 315 million square feet in the UAE.
International property sales
Emaar’s international development business recorded property sales of Dh8.5 billion during the first nine months, up 5 per cent compared with the same period last year.
Revenue from international operations increased 16 per cent to Dh1.6 billion, accounting for approximately 4.3 per cent of the Group’s total revenue. Egypt and India were among the key markets supporting performance.
Mall, hotel portfolio
Emaar’s shopping malls, retail and commercial leasing business generated revenue of Dh5.2 billion, up 10 per cent year-on-year. Ebitda increased 8 per cent to Dh4.4 billion.
Occupancy across the portfolio stood at approximately 98 per cent as of September 30.
Dubai Mall expanded its retail offering during the period with the UAE debut of Primark and the opening of Ulta Beauty’s second UAE store, alongside new luxury retail outlets in Fashion Avenue.
Emaar’s hospitality, leisure and entertainment business generated revenue of Dh2.4 billion during the first nine months.
The company said performance was affected by lower international visitor numbers across the region, while domestic demand provided a partial offset.
Average occupancy at its UAE hotels fell to 63 per cent during the period, compared with 80 per cent in the corresponding period last year.
In September, Emaar Hospitality Group opened Vida Aljada in Sharjah, marking the Vida Hotels & Resorts brand’s debut in the emirate. The five-star property features 175 rooms and suites, alongside serviced apartments, residences, dining and wellness facilities.
Recurring income
Emaar’s recurring revenue businesses, comprising shopping malls, hospitality, leisure, entertainment and commercial leasing, generated Dh7.6 billion in revenue, broadly in line with the same period last year.
Ebitda from these businesses stood at Dh5.9 billion, also broadly unchanged year-on-year. The recurring income portfolio contributed 30 per cent of the Group’s total Ebitda.
Looking ahead, Emaar said it would continue advancing its development pipeline, aligning new launches and investments with market conditions while prioritising construction progress, timely handovers and the performance of its operating assets.
Source: Khaleej Times