Emaar Properties PJSC

Who founded Emaar?

Emaar Properties was founded in 1997 by Mohamed Alabbar, an Emirati businessman who recognised the potential for real estate development in Dubai during the emirate's rapid economic transformation. Alabbar continues to lead the company's strategic direction and described the Dh200 billion megaproject announced in June 2026 as the company's "most extraordinary dream yet."

Is Emaar publicly traded?

Yes. Emaar Properties PJSC is listed on the Dubai Financial Market under ticker EMAAR. In May 2026, Dubai Holding became the largest shareholder with a 29.73% stake after acquiring 22.27% from the Investment Corporation of Dubai for approximately $6.5 billion. The company is subject to regulatory oversight by the UAE Securities and Commodities Authority.

What is Emaar's most famous project?

Emaar's most iconic project is Burj Khalifa, the world's tallest building at 828 metres, completed in 2010 as the centrepiece of Downtown Dubai. Burj Khalifa achieved LEED Platinum certification, making it one of the world's tallest buildings to receive this sustainability certification. The adjacent Dubai Mall is one of the world's largest and most visited shopping malls.

What were Emaar's FY2025 financial results?

In FY2025, Emaar achieved record financial results with net profit of AED 17.6 billion ($4.8 billion), up 30% year over year, and revenue of AED 49.6 billion ($13.5 billion), up 40%. Property sales reached a record AED 80.4 billion. The company launched 48 residential projects across the UAE.

What are Emaar's H1 2026 financial results?

In H1 2026, revenue grew 21% to AED 23.9 billion ($6.5 billion), EBITDA rose 24% to AED 12.9 billion ($3.5 billion), and net profit after tax increased 26% to AED 11.15 billion. Property sales reached AED 26.6 billion ($7.2 billion). The revenue backlog stood at AED 164.9 billion ($44.9 billion) as of 30 June 2026, up 13% year over year.

What is the Dh200 billion megaproject?

In June 2026, Emaar announced a Dh200 billion ($55 billion) mixed-use megaproject in Dubai designed to house nearly 150,000 residents. The master plan spans 4.5 million square metres and includes residential towers, villas, Grade-A offices, retail, and luxury hospitality. It is structured as a 20-minute city with five zones, potential metro connectivity, smart mobility, schools, healthcare, and parks. Industry sources indicate it is likely a revamp of the Dubai Estate masterplan near Dubai Hills Estate.

What is Emaar's revenue backlog?

Emaar's revenue backlog from property sales reached AED 164.9 billion ($44.9 billion) as of 30 June 2026, up 13% year over year. This backlog represents sales that are expected to be recognised as revenue as projects progress and units are delivered, providing strong visibility for future earnings. The UAE development backlog alone stood at AED 135.7 billion.

Who is the largest shareholder of Emaar?

Dubai Holding is the largest shareholder of Emaar with a 29.73% stake as of May 2026. Dubai Holding acquired a 22.27% stake from the Investment Corporation of Dubai for approximately $6.5 billion. Dubai Holding is owned by the Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum.

Emaar Properties was founded in 1997 by Mohamed Alabbar, an Emirati businessman who recognised the potential for real estate development in Dubai during the emirate's rapid economic transformation. Alabbar's vision extended beyond traditional property development to encompass the creation of integrated communities, lifestyle destinations, and iconic landmarks.

The company's early years were marked by ambitious projects that established Emaar's reputation for innovation and quality in real estate development. Emaar gained recognition for its ability to execute large-scale, complex developments that combined residential, commercial, and retail components in integrated master-planned communities.

A defining moment in Emaar's history came with the development of Burj Khalifa, the world's tallest building at 828 metres, completed in 2010. This project established Emaar's technical capabilities and symbolised Dubai's emergence as a global city. The Burj Khalifa project, along with the adjacent Dubai Mall, created a new benchmark for mixed-use development.

Throughout the 2000s, Emaar expanded aggressively, developing numerous landmark projects including Downtown Dubai, Arabian Ranches, and Dubai Marina. The company went public on the Dubai Financial Market, providing capital for accelerated expansion. The public listing brought greater transparency and corporate governance.

Emaar expanded internationally with developments in Saudi Arabia, Egypt, Morocco, and other regional markets. The company added hospitality, entertainment, and leisure components to its traditional real estate development activities, creating comprehensive lifestyle destinations.

In 2025, Emaar achieved record financial results, with net profit reaching AED 17.6 billion ($4.8 billion), up 30%, and revenue climbing 40% to AED 49.6 billion ($13.5 billion). Property sales reached a record AED 80.4 billion. The company launched 48 residential projects across the UAE.

In 2026, Emaar continued its strong performance. In Q1 2026, revenue increased 23% to AED 12.4 billion and net profit before tax grew 33% to AED 7.2 billion. In H1 2026, revenue grew 21% to AED 23.9 billion and net profit after tax rose 26% to AED 11.15 billion. The company launched 11 projects across Emaar South, Dubai Hills Estate, The Heights Country Club, The Oasis, Rashid Yachts and Marina, and Expo Living.

In June 2026, Emaar announced a Dh200 billion ($55 billion) megaproject designed to house nearly 150,000 residents. The master plan spans 4.5 million square metres and includes residential towers, villas, Grade-A offices, retail, and luxury hospitality. Mohamed Alabbar described it as the company's "most extraordinary dream yet." The project is structured as a 20-minute city with five zones, potential metro connectivity, smart mobility, schools, healthcare, and extensive parks. Industry sources indicate the project is likely a revamp of the Dubai Estate masterplan in south-east Dubai, behind Dubai Hills Estate, developed in partnership with Meraas and Dubai Holding.

In May 2026, Dubai Holding became Emaar's largest shareholder with a 29.73% stake after acquiring 22.27% from the Investment Corporation of Dubai. This $6.5 billion transaction consolidated government control over the developer.

Emaar maintains sustainability initiatives focused on green building development, environmental responsibility, and sustainable communities.

Environmental Performance:

• LEED Certification: Burj Khalifa achieved LEED Platinum certification under the v4.1 Operations and Maintenance: Existing Buildings rating system by the US Green Building Council, making it one of the world's tallest buildings to receive this certification
• Solar Energy: 11.74 MWp of solar power capacity installed across UAE properties, representing a 21% increase in renewable energy generation
• Green Building: Focus on sustainable development practices, energy-efficient building designs, water conservation, and waste reduction programmes
• Sustainable Communities: Integration of green spaces, walkable neighbourhoods, and smart technology in developments

Social Responsibility:

• Safety: Zero fatalities across the Group with 117 million total safe manhours worked
• Community Engagement: Development of communities with schools, healthcare facilities, mosques, and cultural venues
• ESG Reporting: Comprehensive ESG reports following international standards, with MSCI ESG rating

Emaar is not a certified B Corporation. The company's sustainability reporting is included in its annual ESG report and financial disclosures.

Emaar Properties has received recognition for its real estate developments, sustainability achievements, and business excellence.

• Best Developer in the UAE: Won the Euromoney Real Estate Awards, recognising excellence in real estate development
• LEED Platinum Certification (2024): Burj Khalifa achieved LEED Platinum certification under the v4.1 Operations and Maintenance: Existing Buildings rating system by the US Green Building Council
• Summit Creative Awards (2005): The Dubai Mall won three awards including Gold for Best Art Direction/Graphic Design
• UAE Web Awards: Two gold awards for Best Corporate Website and Best Real Estate Website
• Pan Arab Web Awards: Gold in the Corporate Category for best website
• World Travel Awards: The Montgomerie Dubai won Dubai's Leading Golf Resort
• MSCI ESG Rating: Received ESG rating from MSCI acknowledging environmental, social, and governance performance

Emaar faces several challenges and areas of public scrutiny.

Dubai Property Market Slowdown:

Dubai's property market, while having grown rapidly, is showing signs of slowing. Property transactions fell 45% year over year in May 2026 while the value of deals declined 56%, according to Dubai Land Department data. This slowdown creates uncertainty for Emaar's development pipeline and pricing strategy. The market has been affected by geopolitical uncertainty tied to the Iran conflict.

Dubai Creek Tower Delays:

The Dubai Creek Tower project, intended as a successor to Burj Khalifa, has faced long delays. Founder Mohamed Alabbar stated in mid-2026 that Emaar would wait three to four months before reassessing pricing for the project. Port closures linked to the Iran conflict increased construction material costs and complicated project pricing. The tower has been in development limbo for several years.

Ownership Consolidation:

In May 2026, Dubai Holding acquired a 22.27% stake in Emaar from the Investment Corporation of Dubai for approximately $6.5 billion, making Dubai Holding the largest shareholder with 29.73%. Bloomberg described this as Dubai's ruler "tightening grip" on the city's biggest developer. The consolidation of government control raises questions about corporate independence and the relationship between government entities and publicly traded companies.

Geopolitical Risks:

Emaar's operations are exposed to Middle Eastern geopolitical risks, particularly the Iran conflict. Port closures have increased construction material costs and affected supply chains. The company's international operations in Egypt and other regional markets carry additional political and economic risk.

Capital-Intensive Business Model:

Emaar's business model requires significant capital investment in development projects. The Dh200 billion megaproject announced in June 2026 represents an enormous capital commitment. Interest rate sensitivity affects financing costs and property affordability, while market saturation concerns exist in certain segments of Dubai's real estate market.