Emaar's real estate sales grew 46% in the first half of 2025 to reach a value of $12.5 billion.
Sales rose 38% to $5.4bn. USD; EBITDA up 30% to $2.8bn USD; Pre-tax net profit up 34% to $2.8bn USD; The volume of unrealized orders increased 62% to 39.8 billion. USD.
Emaar Properties continued to deliver solid results as it maintained momentum in the Dubai real estate market from the first quarter and achieved further record results in the second quarter.
Emaar Properties reported sustained growth in all key segments of the business in the second quarter, with continued strong property sales momentum, growing order volumes and improved profitability.
For the first half of 2025, Emaar reported property sales worth approximately AED 46 billion (US$12.5 billion), a 46% increase compared to the first half of 2024 and breaking all previous sales records. Sales rose to AED 19.8 billion (US$5.4 billion), a 38% year-on-year increase, driven by strong results in development, retail, hospitality and international operations.
Emaar Announces Strong Results for the First Half of 2025
EBITDA reached AED 10.4 billion (US$2.8 billion), an increase of 30% and a healthy margin of over 52%. Net profit before tax rose to AED 10.4 billion (US$2.8 billion), an increase of 34%.
The backlog of orders from the sale of real estate increased to AED 146.3 billion (US$39.8 billion) as of June 30, 2025, an increase of 62 percent year-on-year, which further strengthens the visibility of the company's future revenues. The backlog of orders in the first quarter of this year was approximately AED 127 billion (US$34.6 billion).
Mohamed Alabbar, founder of Emaar, said: “The numbers alone do not say everything. There is an intention behind every sale, every project, every community. There's a team asking: how can we do it better? How can we make someone's day to day?
The first half of 2025 reflects this way of thinking. The focus goes beyond meeting goals and goes toward creating lasting impact and strengthening the bonds that inspire continued growth. “
During the quarter, S&P Global raised Emaar's credit rating to BBB+ and Moody's raised Emaar's credit rating to Baa1, both with a stable outlook. These rating increases reinforce the strength of the Company's strategy, its operational excellence and sustained performance as it continues to focus strongly on effective cost management while maximizing value and performance across all areas of the business.
With 25 new projects in prestigious communities, Emaar Development, which operates in the United Arab Emirates, recorded exceptional growth in the first half of 2025 when sales revenue from real estate sales reached AED 40.6 billion (US$11.1 billion), a 37% increase from the same period last year.
Emaar Development reported sales of approximately AED 10 billion (US$2.7 billion), representing a year-on-year growth of 35%, and a net profit before tax of AED 5.5 billion (US$1.5 billion), up 50% from the first half of 2024.
Emaar Properties' consolidated sales from its real estate development business in the UAE during the first half of 2025 increased to AED 13.5 billion ($3.7 billion), a year-on-year increase of 50%. The backlog of contracts from development projects in the UAE amounted to AED 128.6 billion (USD 35 billion) as of 30 June 2025, an increase of 50% year-on-year.
Shopping centers, retail and commercial rental
The company's malls and rental portfolio also posted strong results, driven by continued tenant revenue growth and healthy occupancy of key assets. As of June 30, 2025, Emaar's malls maintained an average occupancy rate of 98%.
Sales in the first half of 2025 reached AED 3.2 billion (US$871 million), representing a 14% year-on-year increase. EBITDA was AED 2.8 billion (US$762 million), an increase of 18%.
Strong demand for real estate in India and Egypt resulted in Emaar's international operations recording real estate sales worth AED 5.3 billion (US$1.4 billion), an increase of 200% from the first half of 2024. Sales reached AED 1 billion (US$272 million), an increase of 26% and contributing approximately 5% to Emaar's total sales in the first half of 2025.
Businesses in the hospitality, leisure and entertainment sectors also recorded strong results. Emaar's hotels in the UAE achieved an average occupancy rate of 80% in the first half of 2025, compared to 78% in the same period last year. Revenue from this business was AED 2.1 billion (US$572 million).
The company added two hotels with more than 600 rooms in the first half of 2025.
