Emaar H1 2026 results: Group revenue rises 21% to AED 23.9bn as development and recurring operations drive earnings
Emaar H1 2026 results: Group revenue up 21% to AED 23.9bn, EBITDA grows 24% and project backlog strengthens to AED 135.7bn, supporting long-term visibility.
Emaar reported a robust set of H1 2026 results, with group revenue increasing 21% to AED 23.9 billion as development and recurring businesses strengthened performance. The Emaar H1 2026 results show EBITDA rose 24% to AED 12.9 billion while profit before tax climbed 23% to AED 12.8 billion, underscoring broad-based operational momentum. Management attributed the gains to disciplined execution, steady occupancy in income-generating assets and continued progress on projects under construction.
Financial performance and headline numbers
Emaar delivered a significant uplift across headline metrics in the first half of 2026, reflecting both higher development sales and improved recurring income streams. Group revenue reached AED 23.9 billion, a 21% year-on-year increase, while EBITDA expanded to AED 12.9 billion, up 24% from the same period last year. Profit before tax rose 23% to AED 12.8 billion, signaling stronger margins and operational leverage across the portfolio.
The company highlighted that these results were supported by disciplined pricing and controlled cost management, helping to translate higher top-line activity into improved profitability. Emaar also noted that international operations and mall, retail and leasing businesses contributed meaningfully to the consolidated performance.
Development arm drives growth
Emaar’s development unit continued to be the principal growth engine, with Emaar Development recording revenues of AED 13.3 billion, a 34% increase year-on-year. Net profit before tax for the development arm rose sharply to AED 7.8 billion, marking a 41% jump and reflecting strong sales execution and margin preservation. Consolidated development revenues in the UAE stood at AED 17.7 billion, up 30% compared with H1 2025.
Management said that cumulative recognition of revenue from projects under construction improved clarity on future cash flows, supporting both earnings visibility and risk mitigation. The rise in project revenue recognition also reflected steady delivery schedules and the phased handover of completed units to customers.
Project backlog and landbank provide visibility
Emaar reported an accumulated revenue backlog from projects under construction in the UAE of AED 135.7 billion as of June 30, 2026, a 6% increase year-on-year. The company’s development pipeline is underpinned by one of the region’s largest and most diversified landbanks, approximately 590 million square feet in total, with around 316 million square feet located within the UAE. This portfolio gives Emaar flexibility to phase launches and capture further value as market conditions evolve.
Executives stressed that the sizeable backlog and strategically positioned landholdings support medium- to long-term revenue visibility and reduce near-term volatility. They emphasized ongoing project execution as the main lever to convert that visibility into cash flow and shareholder value.
Retail, malls and leasing remain resilient
Emaar’s retail and leasing portfolio maintained solid momentum in H1 2026, with revenues of AED 3.5 billion, up 9% year-on-year. EBITDA for the group’s shopping centre, retail and leasing operations reached AED 3.1 billion — roughly USD 0.8 billion — representing a 10% increase from the prior-year period. Occupancy levels and consumer footfall across key assets were cited as stable drivers of recurring revenue.
The company highlighted continued focus on tenant mix optimization and experiential offerings to sustain mall performance. Emaar said that its integrated communities and destination assets remain core to attracting both residents and visitors, supporting retail sales and leasing yields.
Sales, pricing discipline and market confidence
Property sales during the first half totalled AED 26.6 billion, with the group maintaining disciplined pricing strategies across its integrated communities. Emaar argued that price discipline combined with measured project launches helped preserve margins while meeting steady customer demand. The firm credited the supportive business environment in Dubai for underpinning investor and buyer confidence amid global economic and geopolitical uncertainty.
Founder Mohamed Alabbar reiterated that the company’s results reflect long-term vision and operational discipline, noting that Dubai’s evolving urban landscape continues to create opportunities for destination-led development. Management highlighted the role of stable policy and economic stewardship in attracting capital and talent to the market.
Emaar H1 2026 results also reflected progress on strategic priorities, including enhancing recurring income streams and advancing international operations alongside domestic development activity. The company said these priorities are designed to deliver sustainable value for shareholders over time.
Emaar’s H1 performance points to a business benefiting from a combination of active development sales, a resilient retail platform and a large secured pipeline, offering visibility for future revenue and profitability.