Emaar reports 37 per cent jump in third-quarter profit amid UAE's property boom

Quarterly net income for Dubai's largest listed developer exceeds $1bn on revenue boost

Property sales for Emaar’s international real estate operations rose more than three times to Dh8.1 billion. Chris Whiteoak / The National

Emaar Properties, Dubai’s biggest listed developer, has reported a 37 per cent surge in its annual third-quarter net profit as the UAE‘s continuing property boom drove revenue higher.

Net profit attributable to owners of the company for three months to the end of September climbed to Dh4.3 billion ($1.19) billion, the company said in a statement on Thursday to Dubai Financial Market, where its shares are traded.

Revenue for the quarter jumped 41.4 per cent on a yearly basis to Dh13.2 billion.

For the first nine months of this year, Emaar’s profit rose 34 per cent to Dh11.4 billion as revenue grew 39 per cent to Dh33.1 billion. Property sales for the nine-month period climbed 22 per cent to Dh61 billion.

Up to September 30, Emaar’s revenue backlog from property sales stood at Dh150.3 billion, a 49 per cent year-on-year surge.

“Emaar’s performance reflects steady demand for its developments, robust revenue backlog, strong recurring revenue operations and disciplined financial management, underscoring the resilience of its business model,” Emaar said.

UAE’s property market has been undergoing a boom in recent years, benefiting from government initiatives such as residency permits for retired and remote workers, expansion of the 10-year golden visa programme and growth in the economy.

Dubai, as well as other emirates in the Arab world's second-largest economy, has attracted an influx of millionaires from around the world, in turn driving demand for luxury properties.

In the first half of 2025, the volume and value of all real estate transactions in Dubai rose sharply, as more than 59,000 investors joined the market, the Dubai Media Office said in July, citing Dubai Land Department (DLD) data.

The number of transactions reached 125,538, up nearly 26 per cent on an annual basis, while the value of these transactions rose about 25 per cent to about Dh431 billion, DLD data showed.

Emaar Development, a majority-owned subsidiary specialising in the build-to-sell property development business, also reported a sharp rise in profit, with nine-month property sales growth of10 per cent to Dh52.9 billion. The company's revenue for the period rose 41 per cent to Dh17.6 billion.

Property sales for Emaar’s international real estate operations rose more than three times to Dh8.1 billion, primarily driven by Egypt and India markets, Emaar said.

Emaar’s shopping malls, retail and commercial leasing operations recorded revenue of Dh4.7 billion in the first nine months of this year, up 12 per cent annually, with mall portfolio reporting an average occupancy rate of more than 98 per cent, the company said.