EMAAR DEVELOPMENT PJSC — Earnings Release 2025

May 8, 2025

Press Release

Emaar Development records 28% growth in Property Sales reaching to AED 16.5 billion (US\$ 4.5 billion); Backlog crosses AED 100 billion (US\$ 27 billion)

• Emaar Development's Revenue increased by 43% to AED 5 billion (US\$ 1.4 billion)
• EBITDA increased by 48% to AED 2.5 billion (US\$ 683 million), EBITDA margin of 50%.
• Net Profit before tax increased by 49% to AED 2.8 billion (US\$ 753 million); a net margin of 55%.

Dubai, United Arab Emirates – 8 May 2025: Emaar Development PJSC (DFM: EMAARDEV), the UAE's premier property development company specialising in the build-to-sell property development business, and a majority-owned subsidiary of Emaar Properties PJSC (DFM: EMAAR), achieved robust results in Q1 2025 (January to March), reflecting its commitment to operational excellence, innovation, and customer satisfaction.

Key Highlights of the Results:

• Sales Growth: Emaar Development achieved property sales of AED 16.5 billion (US\$ 4.5 billion); an increase of 28% over Q1 2024 sales of AED 12.9 billion (US\$ 3.5 billion). The success of 12 projects launches across all the masterplans during Q1 2025 further underscores Emaar's market leadership and positions the company for sustained future growth.
• Backlog Growth: Enhanced by record sales during Q1 2025, revenue backlog reached to AED 100.1 billion (US\$ 27.3 billion) as of 31 March 2025; an increase of 52% from Q1 2024 indicating a significant increase in revenue in the forthcoming years.
• Revenue Growth: Emaar Development recorded Revenue of AED 5 billion (US\$ 1.4 billion) in Q1 2025, a 43% increase compared to Q1 2024.
• Profitability: The company recorded Net Profit (before tax) of AED 2.8 billion (US\$ 753 million); an increase of 49% as compared to Q1 2024.
• Customer Satisfaction: Emaar remains focused on delivering high-quality services, ensuring strong customer satisfaction and fostering lasting relationships.
• Sustainability: The company continues to implement sustainable practices in resource use, waste management, and environmental stewardship.

Mohamed Alabbar, founder of Emaar, stated: "The results we've achieved in Q1 2025 underscore our bold approach to redefining the future of real estate. This is not just about financial growth—it's about reshaping the way people experience living, working, and thriving in our communities. Our focus on long-term sustainability, cutting-edge design, and seamless customer experiences has allowed us to stay ahead of the curve, even in a rapidly changing market."

He added: "Looking ahead, we are more committed than ever to fostering innovation in every aspect of our business. Our success in this first quarter is just the beginning, and we are ready to set new benchmarks in quality, connectivity, and community development, ensuring that Emaar continues to play a transformative role in Dubai's vision for the future."

Note to editors:

About Emaar Development PJSC:

Emaar Development is a developer of prime residential and commercial build-to-sell (BTS) assets in the UAE. The company is behind iconic freehold master-planned communities in Dubai, including Emirates Living, Downtown Dubai, Dubai Marina, Arabian Ranches, Dubai Creek Harbour, Dubai Hills Estate, Emaar South, Rashid Yachts & Marina, The Valley and The Oasis. It has delivered 76,000 residential units since 2002. The company has a sales backlog of over AED 100 billion. It is a high cash flow generating business, highlighting the company's robust fundamentals with over 43,500 residential units under development to be delivered.

For more information, please visit https://properties.emaar.com/en/investor-relations/emaarproperties-pjsc/

For more information and media queries: Marketing Department - Emaar PR@emaar.ae

Emaar Development PJSC Consolidated Income Statement

	(AED Millions)
	For the period ended
	31 March 2025	31 March 2024
			% Change
Revenue	5,024	3,507	43%
Cost of revenue	(2, 246)	(1,619)	(39%)
Gross Profit	2,778	1,888	47%
Selling, marketing, general & administration expenses	(378)	(309)	(22%)
Other income	38	88	(57%)
Share of results from joint ventures	70	25	180%
EBITDA	2,508	1,692	48%
Depreciation and amortization	(2)	(2)	0%
Finance income, net	259	168	54%
Net profit before tax for the period	2,765	1,858	49%
Tax expenses	(410)	(165)	(148%)
Net profit for the period	2,355	1,693	39%
Net profit attributable to:
Equity holders	1,918	1,293	48%
Minority interest	437 2,355	400 1,693	9% 39%

Mohamed Alabbar..................................

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