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Emaar Development project backlog hits $27bn

By Pramod Kumar
Emaar Development's backlog, which refers to future revenue from property sales, surged 52 percent year on year Unsplash.com/Timo Volz
Emaar Development's backlog, which refers to future revenue from property sales, surged 52 percent year on year

Emaar Development, the UAE-focused development arm of Emaar Properties, said backlog growth had crossed AED100 billion ($27 billion) by the end of the first quarter of 2025.

The backlog, which refers to future revenue from property sales to be recognised in the coming years, surged 52 percent year on year, the developer said in a statement to the Dubai Financial Market on Thursday.

Net profit before tax rose 49 percent yearly to AED 2.8 billion. Net profit attributable rose to AED1.9 billion, up 46 percent year on year, according to Reuters.

Revenue jumped 43 percent year on year to AED 5 billion.

Property sales rose 28 percent to AED 16.5 billion in the first quarter from AED 12.9 billion a year ago, driven by 12 new project launches across all the masterplans.

The company has a land bank of 170 million square foot gross area for build in the UAE, which at an average development rate is expected to service at least 12 years of sales, according to the company website.

In March Emaar Properties was reported to be in talks with India’s Adani Group to sell its Indian business for $1.4 billion.

The company’s share price hovered above AED13 ahead of closing on Thursday. Shares are up 67 percent in the year to date.

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