Emaar Properties has posted a remarkable 50% surge in Q1 2025 revenue, reaching AED 10.1 billion (US$ 2.8 billion). This robust performance highlights the Dubai-based global property developer’s ongoing growth momentum, reflecting a significant increase in property sales and strong contributions across its malls, hospitality, and international developments.
Record Property Sales and Growing Backlog Fuel Expansion
The company reported property sales of AED 19.3 billion (US$ 5.3 billion) in Q1 2025, a substantial 42% increase from Q1 2024. The growth trajectory continued with a 50% revenue increase, as Emaar exceeded expectations by delivering both property sales and project completions at a rapid pace.
Mohamed Alabbar, founder of Emaar, expressed his satisfaction with the results:
“Every quarter is an opportunity to reinvent what’s possible – not just in how we build, but in how we think, lead, and connect. At Emaar, we don’t follow momentum – we create it. Our journey is powered by bold ideas and a commitment to shaping the future with purpose and precision.”
The company’s revenue backlog from property sales grew by an impressive 62%, reaching AED 127 billion (US$ 34.6 billion) by March 2025. This backlog underscores a strong revenue pipeline for the coming years.
Growth Across Divisions Strengthens Emaar’s Performance
Emaar’s property development business, Emaar Development, recorded Q1 sales of AED 16.5 billion (US$ 4.5 billion), marking a 28% increase from the same period last year. The division’s revenue reached AED 5 billion (US$ 1.4 billion), while net profit before tax rose by 49% to AED 2.8 billion (US$ 753 million).
Emaar’s shopping malls saw strong results, with 98% occupancy and revenue of AED 1.5 billion (US$ 408 million). The retail and commercial leasing segments contributed significantly to this performance, reflecting continued growth in tenant sales and favorable lease renewals. The division also posted an EBITDA of AED 1.3 billion (US$ 354 million).
Internationally, strong performances from India and Egypt lifted Emaar’s international development sales to AED 2.8 billion (US$ 762 million), with revenue of AED 626 million (US$ 170 million). These markets now contribute 6% of Emaar’s total revenue.
Diversified Income Streams and Hospitality Growth Propel Future Outlook
The hospitality, leisure, and entertainment divisions saw revenues increase to AED 1.1 billion (US$ 299 million), supported by strong tourism and domestic demand. Emaar’s UAE hotels maintained an 82% occupancy rate during Q1, and the company expanded its hospitality portfolio with the addition of two new hotels, adding over 600 keys to its offerings.
Emaar’s recurring revenue-generating portfolio across malls, hospitality, and commercial leasing contributed AED 2.6 billion (US$ 707 million) in revenue, marking an 11% increase from the previous year. The EBITDA from this portfolio was AED 2 billion (US$ 545 million), continuing to provide stable income and robust cash flow for the group.
Strong Foundations for Sustainable Growth and Market Leadership
Emaar’s Q1 2025 results reflect the company’s strong market position and its ability to navigate diverse revenue streams in both local and international markets. With a growing revenue backlog, expanding global footprint, and a diversified portfolio of high-performing assets, Emaar is well-positioned to maintain its momentum throughout 2025 and beyond.
