EL7.AI
StocksMedium•5 November 2026•
4 min read

Emaar approves special AED 4.4 billion distribution after 18% profit growth

Key Facts

1Emaar approved a special distribution of AED 4.4 billion, equivalent to $1.2 billion or AED 0.5 per share.
2Revenue was AED 37.5 billion, up 13%, and profit before tax was AED 19.8 billion, up 18%.
3The revenue backlog from property sales reached AED 158.8 billion on September 30, up 6% year on year.
4The group’s property sales totaled AED 34.7 billion in the first nine months of 2026.

On November 5, Emaar Properties said its board had approved a one-off special distribution of AED 4.4 billion, equivalent to $1.2 billion or AED 0.5 per share, in addition to its usual annual distribution. The decision coincided with the announcement of results for the nine months ended September 30, 2026, when the company recorded revenue of AED 37.5 billion, up 13% year on year. Profit before tax reached AED 19.8 billion, up 18% from the same period a year earlier. The company said project execution and revenue recognition from its backlog supported performance during the period. The special distribution gives shareholders an additional return on top of the annual distribution, while the results reflect growth in revenue and profit during the period.

Earnings before interest, taxes, depreciation and amortization reached AED 19.7 billion, up 19% year on year, with a margin of 53% in the first nine months. This puts growth in the measure above the increases in revenue, at 13%, and profit before tax, at 18%. Emaar said performance benefited from project execution across the group’s activities and recognition of revenue related to existing work. The company said this trajectory means project completion and conversion of contracted work into revenue were key elements of the period’s results. The company included these indicators in its financial announcement for the period ended in September.

The group’s property sales reached AED 34.7 billion, or $9.4 billion, in the first nine months of 2026. Emaar launched 14 projects in its master communities during the period, while property sales in the UAE reached AED 26.2 billion, equivalent to $7.1 billion. The company attributed UAE sales to new launches and continued absorption of existing inventory. The figures show two sides of business activity during the period: new projects added to the development portfolio and sales of units already on offer. The company also links ongoing revenue to execution of those projects and its backlog.

The value of the revenue backlog from property sales reached AED 158.8 billion, or $43.2 billion, on September 30, up 6% year on year. Emaar said this balance provides visibility on revenue recognition in coming years as units and projects linked to sales are delivered. The figure comes amid expanding sales and the launch of 14 projects during the nine months, but represents revenue not yet recorded in the period’s results. The company said revenue recognition from its existing backlog was among the factors supporting performance. The balance therefore indicates the scale of property work that will convert into revenue as execution progresses.

On deliveries, Emaar said it handed over more than 4,800 homes in the UAE in the first nine months of the year. It added that more than 80% of active projects in the country were ahead of schedule on September 30. The group also had a land bank of about 604 million square feet of development opportunities, including 315 million square feet in the UAE. These areas provide a base for future projects, while the pace at which they are turned into active business depends on the company’s development and investment decisions. Delivery and execution progress figures show the operational side that accompanied growth in sales and revenue during the period.

In construction, Emaar Development awarded 23 main works contracts worth AED 13.5 billion and 43 infrastructure works contracts worth AED 4.3 billion in the first nine months of 2026. The values of the two contract categories, according to the company, equate to $3.7 billion for main works and $1.2 billion for infrastructure. The contracts form part of project execution work that the group said supported performance, alongside recording revenue from its sales backlog. In contrast, data for Dubai’s residential market in the third quarter cited by The National, citing Cavendish Maxwell, showed sales value falling 47% to AED 72.6 billion and the number of transactions declining 38% to 34,000. These figures provide context on the market during the quarter, while Emaar’s figures reflect the group’s sales and activity over the nine months.

Emaar said its approach in the coming period would balance project launches and investment against market conditions, while prioritizing construction progress, timely delivery and the performance of operating assets. These priorities link the existing sales base with unit handovers and revenue recognition in coming periods. The revenue backlog of AED 158.8 billion also provides, according to the company, visibility on revenue that can be recognized in coming years. This follows growth in revenue and profit before tax in the first nine months and approval of an exceptional distribution on top of the usual annual distribution. The company did not specify a date for the distribution in the information released.