Emaar revenue climbs 13% to $10.2 billion, declares $1.2 billion special payout

Summary

• Emaar Properties posted nine-month 2026 revenue of AED 37.5 billion, up 13% year-on-year.
• The board approved a one-off dividend of AED 4.4 billion, 50% of share capital.
• Unit deliveries and construction progress drove pre-tax profit up 18% to AED 19.8 billion.

The latest

Emaar Properties generated AED 37.5 billion ($10.2 billion) in revenue over the first nine months of 2026, a 13% rise from AED 33.1 billion a year earlier, according to the company's statement. Pre-tax net profit rose 18% to AED 19.8 billion. The board separately approved a one-time special dividend of AED 4.4 billion, on top of the group's regular annual distribution.

Details

• The headline numbers: Revenue reached AED 37.5 billion ($10.2 billion) for the nine months to September, against AED 33.1 billion ($9 billion) a year earlier. The company attributed the increase to property sales growth, faster construction execution, residential handovers and performance across its business segments.
• Profitability: Pre-tax net profit climbed 18% to AED 19.8 billion ($5.27 billion), while EBITDA rose 19% to AED 19.7 billion ($5.24 billion), per the statement. The near-identical absolute figures place almost the entirety of group earnings in operating performance rather than below-the-line items.
• The special dividend: Emaar's board approved a one-off distribution of AED 4.4 billion ($1.2 billion), equal to AED 0.5 per share and 50% of the company's share capital. The payout comes in addition to Emaar's customary annual dividend. No payment date was disclosed in the announcement.
• Sales backlog: Property sales totaled AED 34.7 billion ($9.24 billion) during the period. Cumulative revenue booked from projects still under construction rose 6% year-on-year to AED 158.8 billion ($42.28 billion) at the end of September, a pipeline recognized as building work advances.
• Delivery pipeline: The group launched 14 projects within its integrated communities and handed over more than 4,800 residential units in the UAE. Work on more than 80% of its projects under execution inside the country is progressing in line with published schedules.
• Contracts awarded: Emaar Development awarded 23 main works contracts worth AED 13.5 billion ($3.59 billion) and 43 infrastructure contracts worth AED 4.3 billion ($1.14 billion) — a commitment that locks in construction capacity for the coming build cycle.
• Land bank: The group said it holds roughly 604 million square feet of development opportunities, of which 315 million square feet sit inside the UAE. Management framed the holding as the basis for expansion plans and the future project portfolio.
• The developer arm: Emaar Development reported a 26% revenue rise to AED 22.2 billion ($6 billion), with post-tax net profit up 24% to AED 10.8 billion ($2.9 billion) and EBITDA up 28% to AED 11.4 billion ($3.1 billion), at a 52% margin. Its property sales reached AED 26.2 billion ($7.1 billion).
• Subsidiary backlog: Emaar Development's cumulative revenue from projects under construction stood at AED 119.8 billion ($32.6 billion) as of 30 September 2026. The unit holds a land bank of about 285 million square feet of mixed-use development opportunities.
• Founder's framing: Mohamed Alabbar, Emaar's founder, said the nine-month results reflect performance across the group's segments, from construction and unit handovers through to destination management. He pointed to continued investment in projects and destinations to meet the demands of population growth in the UAE.

Background

Emaar Development said during the first half of 2026 that it intends to launch a master plan valued at AED 200 billion, roughly $54.5 billion. The subsidiary handles the group's residential development activity, while the parent spans malls, hospitality and destination management.

Between the lines

Three figures point the same direction: a 50% special payout, AED 17.8 billion in newly awarded contracts, and a backlog above AED 158 billion. Returning capital at that scale while committing heavily to construction suggests the group sees cash generation comfortably ahead of what its development pipeline currently absorbs.

What's next

Watch the payment date and shareholder approval of the AED 4.4 billion special dividend, full-year 2026 results, and whether the AED 200 billion master plan flagged earlier this year moves to formal launch.

Source: Forbes Middle East