Emaar Reports US$5.4bn Profit and US$4.9bn Project Awards

Dubai, UAE - Emaar Properties reported an 18% increase in net profit before tax to US$5.4 billion (AED 19.8 billion) for the first nine months of 2026, as the Dubai-based developer awarded approximately US$4.9 billion (AED 17.8 billion) in construction and infrastructure contracts across its development portfolio.

The company generated US$10.2 billion (AED 37.5 billion) in revenue during the nine months ended September 30, representing a 13% increase from US$9 billion (AED 33.1 billion) in the corresponding period of 2025.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 19% to US$5.4 billion (AED 19.7 billion), with the developer reporting an EBITDA margin of 53%.

Emaar's property sales reached US$9.4 billion (AED 34.7 billion) during the period, supported by activity across its residential communities. The company's property sales revenue backlog stood at US$43.2 billion (AED 158.8 billion) as of September 30, up 6% year-on-year.

Construction awards and residential deliveries

Construction activity remained a major part of Emaar's operations during the first nine months of 2026.

Through its listed subsidiary Emaar Development, the group awarded 23 main works contracts valued at US$3.7 billion (AED 13.5 billion), alongside 43 infrastructure contracts worth US$1.2 billion (AED 4.3 billion).

The combined contracts represent approximately US$4.9 billion (AED 17.8 billion) in construction and infrastructure awards supporting ongoing residential communities and associated development works.

Emaar also handed over more than 4,800 residential units in the UAE during the period. As of September 30, more than 80% of the group's active UAE projects were ahead of schedule, according to the company's financial announcement.

The developer launched 14 projects across its master-planned communities in the first nine months of the year, including new residential offerings at Dubai Creek Harbour, The Valley and Heights Country Club & Wellness.

Emaar Development, which leads the group's UAE build-to-sell residential operations, reported revenue of US$6 billion (AED 22.2 billion), an increase of 26% compared with the same period last year.

Its net profit before tax increased 28% to US$3.4 billion (AED 12.5 billion), supported by residential development activity and revenue recognition from ongoing projects.

UAE property sales reached US$7.1 billion (AED 26.2 billion), while consolidated revenue from Emaar's UAE development operations, including Dubai Creek Harbour, rose 18% to US$7.7 billion (AED 28.3 billion).

The group's UAE development revenue backlog stood at US$34.6 billion (AED 127.2 billion) at the end of September, reflecting property sales that will be recognised as revenue over future reporting periods.

Emaar advances long-term development pipeline

Emaar's land bank covers approximately 604 million sq ft across the UAE and international markets, including around 315 million sq ft within the UAE.

The company also highlighted its previously announced US$54.5 billion (AED 200 billion) masterplan, which is expected to expand its long-term development pipeline in Dubai.

Alongside residential development, Emaar's shopping malls, hospitality, leisure, entertainment and commercial leasing operations generated US$2.1 billion (AED 7.6 billion) in recurring revenue during the first nine months of the year.

These businesses contributed approximately 30% of group EBITDA, providing earnings from operating assets alongside revenue generated through property development.

Commenting on the results, Emaar founder Mohamed Alabbar said: “Our nine-month results reflect the work happening across Emaar, from construction sites and handovers to the daily management of our destinations. A home purchase is a significant commitment, and our responsibility continues long after the sale. We earn that trust through the quality we deliver and how our communities perform over time. That is where our teams remain focused as we invest in the next stage of Emaar’s growth.”

The developer's board also approved a one-time special dividend of US$1.2 billion (AED 4.4 billion), equivalent to US$0.14 (AED 0.50) per share, in addition to its regular annual dividend.

Emaar said it would continue aligning new project launches and investment decisions with market conditions while prioritising construction delivery, residential handovers and the performance of its existing assets.