Emaar has reported a remarkable 50% surge in Q1 revenue to $2.8 billion, driven by robust sales across its various business segments. These impressive figures reflect both the strength of its property sales and the sustained demand for its diversified offerings. The growth illustrates a promising start to the year for Emaar, showcasing resilience and a forward-looking approach in the real estate market.
Emaar reported property sales exceeding AED19.3 billion (US$5.3 billion), a 42% increase over Q1 2024 sales of AED13.5 billion (US$3.7 billion). Revenue surged to AED10.1 billion (US$2.8 billion) during the quarter, marking a 50% increase compared to the same period last year.
The company reported an EBITDA of AED5.4 billion (US$1.5 billion), up 24% year-over-year, with a healthy margin exceeding 53%. Net profit before tax rose 27% to AED5.4 billion (US$1.5 billion).
Emaar’s revenue backlog from property sales increased to approximately AED127 billion (US$34.6 billion) as of March 31, 2025, marking a 62% increase from the same period last year and indicating strong revenue growth for the coming years.
Mohamed Alabbar, founder of Emaar, commented: “Every quarter is an opportunity to reinvent what’s possible – not just in how we build, but in how we think, lead, and connect.”
“These results are more than numbers; they reflect the ambition of a team that refuses to stand still, and a community that inspires us to go further.”
“At Emaar, we don’t follow momentum – we create it. Our journey is powered by people with bold ideas, by a culture that rewards curiosity, and by a commitment to shape the future with purpose and precision.”
Growth Across Business Divisions
Strong property sales and project deliveries lifted Emaar Development to another record quarterly sales of AED16.5 billion (US$4.5 billion), a 28% increase over Q1 2024. Revenue jumped 43% to reach AED5 billion (US$1.4 billion), while net profit before tax of AED2.8 billion (US$753 million) represented a 49% year-over-year growth. Consolidated revenue was AED6.9 billion (US$1.9 billion). Revenue backlog from property sales in the UAE increased to AED112 billion (US$30.5 billion).
With its malls maintaining an average occupancy of 98%, Emaar’s shopping malls, retail, and commercial leasing operations recorded revenue of AED1.5 billion (US$408 million) during the quarter. The portfolio achieved an EBITDA of AED1.3 billion (US$354 million). The company attributed the performance to improvements in lease rentals on renewal, continued growth in tenant sales, and sustained healthy occupancy rates across key assets.
Strong results in India and Egypt drove the company’s international development sales to AED2.8 billion (US$762 million), with revenue of AED626 million (US$170 million). Revenue from international real estate operations represents approximately 6% of Emaar’s total revenue during the quarter.
The company’s hospitality, leisure, and entertainment divisions generated revenues of AED1.1 billion (US$299 million), supported by buoyant tourism and a surge in domestic demand. Emaar’s UAE hotels, including those under management, reported an average occupancy of 82% during the quarter. Emaar also expanded its hospitality portfolio with the addition of two new hotels with over 600 keys.
Emaar’s recurring revenue-generating portfolio, encompassing malls, hospitality, leisure, entertainment, and commercial leasing, achieved strong results, with a revenue increase of 11% to AED2.6 billion (US$707 million) and an EBITDA of AED2 billion (US$545 million). This portfolio continues to provide stable income streams and robust cash flows for the group.