Real Estate Emaar Development buys new land in Dubai for $790m By Pramod Kumar June 2, 2025, 7:53 AM Emaar Emaar Development's new Dubai plot is in Ras Al Khor, where other developers have launched projects Emaar Development, the UAE development arm of Emaar Properties, has acquired a new land plot in Dubai for the potential expansion of its master communities. The land, the size of which was not disclosed, was acquired for AED2.9 billion ($790 million) from Amlak Property Investment in Ras Al Khor, the developer said in a statement. The deal is expected to be completed by July 31. Ras Al Khor is home to a wetland reserve for migratory birds. Dubai government-backed Wasl Properties and private developer Sobha Realty have launched projects in the area. In 2024, Emaar Development acquired 141 million sq ft of prime development land, with a total projected value of AED96 billion, chairman Adnan Kazim said in the integrated annual report for 2024. Last month the developer said its backlog growth crossed AED100 billion by the end of the first quarter of 2025, surging 52 percent year on year. UAE property developers bank on huge order backlogs Emaar revenue doubles as property sales rise Emaar hits record sales in 2024 after launch of 62 projects The backlog refers to future revenue from property sales to be recognised in the coming years. The company has a land bank of 170 million sq ft 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. The company’s share closed at AED13.40, up 0.4 percent, on Friday on the Dubai Financial Market. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
