Emaar Properties, the UAE’s largest listed developer, announced a significant uplift in its second-quarter profit, climbing nearly 9 percent annually. The company reported a net profit attributable to owners of Dh3.7 billion ($1 billion) for the three months ending June 30, underscoring a period of robust revenue growth despite prevailing geopolitical uncertainties.
Revenue for the second quarter saw an impressive 18 percent increase, reaching Dh11.5 billion. This strong performance contributed to an even more substantial first-half result for 2026, with net profit surging 22 percent year-on-year to Dh8.7 billion ($2.37 billion). First-half revenue also recorded a solid 21 percent rise, totaling nearly Dh24 billion ($6.53 billion).
Emaar attributed these positive outcomes to “disciplined execution across the group’s core businesses and the continued strength of Dubai’s economic fundamentals.” The broader economic landscape of the UAE provided a supportive environment, with the nation’s economy expanding 3 percent annually in the first quarter of 2026, reaching a robust $132 billion and significantly bolstering the property sector.
While Dubai’s sales prices experienced a 2 percent annual rise in the second quarter, they saw a slight decline of approximately 2.5 percent compared to the previous quarter, a trend identified by Cavendish Maxwell in its latest report, linked to initial uncertainty stemming from the Iran war. However, the UAE’s diversified and business-friendly environment largely mitigated the immediate fallout, maintaining confidence across Emaar’s core markets.
Operational segments demonstrated consistent strength. Emaar’s international real estate operations contributed Dh4.2 billion in property sales and Dh1.1 billion in revenue during the first half, marking an 8 percent year-on-year increase. The shopping malls, retail, and commercial leasing divisions recorded a 9 percent annual revenue increase, reaching Dh3.5 billion for the first half, with an impressive average occupancy rate of 98 percent across its portfolio.
The hospitality, leisure, and entertainment sector also performed well, generating Dh1.6 billion in revenue in the first half of the year. Despite softer international tourism flows across the region, Emaar’s hotel portfolio maintained an average occupancy of 60 percent. Mohamed Alabbar, founder of Emaar, remarked, “Our first half results reflect the discipline, consistency, and long-term approach that define Emaar.”
Looking ahead, Emaar continues its ambitious development plans, including a substantial Dh200 billion megaproject in Dubai, designed to accommodate 150,000 residents, further solidifying its position in the region’s dynamic real estate market.
