EMAAR DEVELOPMENT PJSC — Earnings Release 2025

Aug 6, 2025

Press Release

Emaar Development reported 37% growth in Property Sales reaching to AED 40.6 billion (US\$ 11 billion); Backlog increases by 59% to AED 117.7 billion (US\$ 32 billion) in the first half of 2025

• Revenue increased by 35% to AED 10 billion (US\$ 2.7 billion)
• EBITDA increased by 47% to AED 5 billion (US\$ 1.4 billion), at a healthy 50% margin
• Net Profit before tax increased by 50% to AED 5.5 billion (US\$ 1.5 billion); a net margin of 55%.

Dubai, United Arab Emirates – 6 August 2025: Emaar Development PJSC (DFM: EMAARDEV), the UAE's premier build-to-sell property development company and majority-owned subsidiary of Emaar Properties PJSC (DFM: EMAAR), delivered strong results in first half of 2025 (January to June), demonstrating sustained operational strength and market leadership.

Key Highlights of the Results:

• Sales Growth: Emaar Development achieved property sales of AED 40.6 billion (US\$ 11 billion); compared to AED 29.7 billion (US\$ 8.1 billion) during first half of 2024 (January to June), an increase of 37%. This growth is supported by the successful launch of 25 new projects across key masterplans during first half of 2025, reinforcing Emaar's dominant market position.
• Backlog Growth: Enhanced by record sales during first half of 2025, revenue backlog has now increased to AED 117.7 billion (US\$ 32 billion) as of 30 June 2025; an increase of 59% compared to the same period last year, indicating a significant increase in revenue in the forthcoming years.
• Revenue Growth: Emaar Development recorded Revenue of AED 10 billion (US\$ 2.7 billion) in first half of 2025, a 35% increase compared to first half of 2024.
• Profitability: The company recorded Net Profit (before tax) of AED 5.5 billion (US\$ 1.5 billion); an increase of 50% as compared to first half of 2024, supported by operational efficiencies and robust project execution.
• Customer Satisfaction: Emaar continues its commitment to delivering exceptional quality and enhancing customer satisfaction, reinforcing trust and long-term relationships.
• Sustainability: The company advances its sustainable development practices, focusing on energy efficiency, resource management, and environmental responsibility.

Mohamed Alabbar, founder of Emaar, stated: "Our results for first half of 2025 demonstrate the resilience and dynamism in a competitive market. Beyond financial metrics, we remain dedicated to elevating lifestyles and creating communities where people can truly grow. Our innovation-driven approach and customer-centric focus continue to be key pillars of our success."

He added: "Rather than reacting to market shifts, Emaar is actively shaping what the future of urban living looks like. By blending visionary design with sustainability and cutting-edge technology, we are creating spaces that reflect the aspirations of today and the possibilities of tomorrow, and this is how we turn growth into legacy."

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, The Oasis, Emaar Beachfront and Grand Polo Club and Resort. It has delivered over 77,500 residential units since 2002. The company has a sales backlog of AED 117.7 billion. It is a high cash flow generating business, highlighting the company's robust fundamentals with over 45,500 residential units under development to be delivered.

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

For media queries: PR@emaar.ae

Emaar Development PJSC Consolidated Income Statement

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$\bar{z}$

	(AED Millions) For the period ended
	30 June 2025	30 June 2024	% Change
Revenue	9,930	7,338	35%
Cost of revenue	(4, 415)	(3, 431)	(29%)
Gross Profit	5,515	3,907	41%
Selling, marketing, general & administration expenses	(772)	(678)	(14%)
Other income	84	114	(26%)
Share of results from joint ventures	144	41	251%
EBITDA	4,971	3,384	47%
Depreciation and amortization	(8)	(4)	$(100\%)$
Finance income, net	544	288	89%
Net profit before tax for the period	5,507	3,668	50%
Tax expenses	(804)	(327)	(146%)
Net profit for the period	4,703	3,341	41%
Net profit attributable to:
Owners of the Company Non-controlling Interests	3,756	2,501	50%
	947 4,703	840 3,341	13% 41%

$0.94$

0.63

50%

Earnings per share attributable to the owners of the Company (AED)

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

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