Emaar posts strong Q1 2026 as revenues rise 23% and sales hit AED 22.4bn
Emaar reports Q1 2026: revenues +23%, property sales AED22.4bn, backlog AED163.4bn, EBITDA up sharply and AED8.9bn in dividends reinforce investor returns.
Emaar delivered a robust start to 2026, reporting a 23 percent rise in first-quarter revenues driven by sustained property demand and strengthened recurring income streams. The developer recorded AED 22.4 billion in property sales and an accumulated project backlog of AED 163.4 billion at March 31, underpinning multi-year revenue visibility. Operational discipline and margin expansion pushed EBITDA higher, supporting a significant shareholder payout and reinforcing the group’s financial flexibility.
Emaar posts Q1 financial highlights
Revenue growth accelerated to AED 12.4 billion in the quarter, up 23 percent year‑on‑year, while EBITDA rose 34 percent to AED 7.2 billion. Property sales reached AED 22.4 billion, a 16 percent increase from the same period last year, reflecting sustained buyer appetite across the group’s communities. The company also reported a pre‑tax net profit improvement that tracked closely with operational gains, signaling improved leverage on fixed costs.
Sales momentum and backlog reinforce project visibility
Emaar’s cumulative revenue backlog from projects under development expanded to AED 163.4 billion, up 29 percent annually, providing a clear line of sight for future top‑line performance. Within the UAE, development revenues totaled AED 8.9 billion, with Emaar Development posting AED 20.1 billion in sales and AED 6.9 billion in revenues. The group launched ten new projects in the quarter, including a nature‑inspired wellness community, broadening its integrated community portfolio and product mix.
Recurring income and retail assets stabilize margins
The group’s recurring revenue arm contributed AED 2.8 billion in the quarter, growing 7 percent year‑on‑year and underscoring its role as a stabiliser of cash flows. Emaar’s retail and commercial portfolio delivered AED 1.8 billion in revenues and achieved an average occupancy rate of 98 percent across its holdings. These stable occupancy levels and improved lease renewals supported resilient margins, with the recurring businesses providing roughly 30 percent of the group’s EBITDA for the quarter.
Hospitality and leisure hold steady under pressure
Emaar’s hospitality and entertainment division reported AED 1.0 billion in revenues, broadly in line with the prior year despite regional volatility affecting performance in March. Average hotel occupancy in the UAE for the portfolio stood at 69 percent for the quarter, reflecting sustained inbound travel outside episodic disruptions. Management noted that the division remains a strategic growth engine as tourism demand normalises and experiential offerings expand.
International development continues to diversify revenue
International operations contributed to the group’s diversification, with international property sales of AED 2.3 billion and revenues from overseas operations of AED 0.7 billion, up 5 percent year‑on‑year. These markets, led by strong activity in Egypt, accounted for roughly 5.3 percent of consolidated revenues in the quarter. Continued overseas project execution helps spread market risk and supports incremental earnings growth as global pipelines mature.
Capital returns, landbank and sustainability priorities
Emaar’s board approved a shareholder distribution equal to 100 percent of capital for the second consecutive year, representing AED 8.9 billion in total dividends and reflecting the company’s cash generation strength. The group also highlighted a strategically important landbank approaching 600 million square feet of developable area, with approximately 317 million square feet located within the UAE to support long‑term expansion. Alongside financial aims, Emaar reiterated commitments to sustainability, including progress on its 2050 climate neutrality strategy and expanded renewable energy initiatives.
Emaar said management remains focused on disciplined capital allocation, operational excellence and converting the sizeable revenue backlog into sustainable profit growth. The company also emphasised investment in people, leadership development and employee wellbeing as part of broader efforts to maintain execution momentum in varied market conditions.
Looking ahead, Emaar will continue to monitor macro and regional developments closely while prioritising project delivery, margin management and capital discipline to support long‑term shareholder value and stable cash flows.
