Emaar Buys Land in Ras Al Khor

Adding to its existing vast tracts of land in the UAE, Emaar, one of the leading property developers in Dubai, on Friday said that it will acquire to buy land plots in Ras Al Khor with future development proposals for $810 million from Amlak Property Investment.

In a disclosure with Dubai Financial Market (DFM) this morning, Emaar said that the deal with the   DFM-listed entity, which was selling non-core operations as part of a tightly knit financial and operational restructuring.

Emaar said that the land purchase will support the company’s strategic growth objectives and acquiring this land will enable the company to expand its land bank portfolio and initiate new real estate projects aligning with its core business.

The company said that the transaction will be financed through internal resources and 100% of the purchase price will be payable upon transfer of the land, which is expected to be completed by 31 July 2025.

Regarding the expected financial impact on the business results and financial position of the listed company, Emaar said that the acquisition will reduce its financial resources by the purchase amount, while simultaneously increased its asset base by the equivalent value.

The company said that 100% of the purchase will be payable up on transfer of plots and 20% security deposit will be returnable once the entire payment has been made. Termination penalty of 10% of the purchase price will be imposed on the party in default in case of termination of the agreement, Emaar added.

Emaar Performance in Q1

Emaar continued its momentum with strong property sales and project deliveries by successfully launching 12 projects in Q1 of 2025 across all master plans in the UAE.

The company’s property development business in the UAE achieved yet another record quarterly property sales of $4.5 billion, an increase of over 28% compared with the corresponding period in the previous year.

Emaar’s revenue for Q1 of 2025 reached $1.4 billion, a growth of 43% over the same period last year and achieved net profit before tax of $753 million, reflecting a growth of 49% over Q1 of 2024. The consolidated revenue of Emaar Properties from its property development business in the UAE during Q1-2025 reached $1.9 billion, including Dubai Creek Harbour.

The revenue backlog from property sales in the UAE increased to $30.5 billion as of 31 March 2025 and its strong performance reflected continued demand for high-quality residential developments in Dubai, with new projects planned for launch throughout the year.

Shopping Malls and Others

Emaar’s shopping malls, retail, and commercial leasing operations recorded revenue of $408 million in the first quarter. During the same period, the portfolio achieved an EBITDA of $354 million.

This performance is primarily attributed to improvement in lease rentals on renewal, continued growth in tenant sales and sustained healthy occupancy rates across key assets. As of 31 March 2025, Emaar’s mall assets maintained an average occupancy of 98%.

International Development

Emaar’s international real estate operations recorded property sales of $762 million in Q1 of 2025, reflecting continued demand across key markets, and revenue amounted to $170 million during the same period.

The performance of international operations was primarily driven by strong results in India and Egypt. Revenue from international real estate operations represent approximately 6% of Emaar’s total revenue in Q1 of 2025.

Emaar’s hospitality, leisure, and entertainment divisions generated revenues of $299 million, supported by buoyant tourism and a surge in domestic demand.