The construction arm of Dubai’s largest listed real estate firm Emaar Properties – Emaar Development – has purchased a large tract of land with ‘future development potential’ in the Ras Al Khor area from Amlak Property Investment for AED 2.9bn ($790m) plus associated transaction charges.
Emaar Development plans to launch real estate projects on the plot of land to capitalise on the continued boom in the emirate’s property market. The acquisition, which will add to the developer’s land bank, will be financed through internal resources.
The developer is known for its large-scale master-planned communities, including Downtown Dubai, Dubai Marina, and Dubai Creek Harbour. Emaar Development launched 12 schemes across its master plans in the UAE in Q1 2025.
Emaar recorded a revenue of AED 10.1bn ($2.8bn) in Q1 2025 – a 50% increase compared to the same period in 2024. The company reported an EBITDA of AED 5.4bn ($1.5bn), up 24% from same period last year, with a healthy margin exceeding 53%. Net profit before tax also rose by 27% to AED 5.4bn ($1.5bn) compared to Q1 2024.
