Dubai’s Emaar eyes international deals after 46% sales surge
Property giant weighs US, India, China and Europe for expansion
DUBAI – Emaar has signalled its intention to expand internationally through mergers and acquisitions, after a record-breaking performance in its core Dubai market.
The property giant announced first-half results showing property sales of Dh46 billion, up 46 percent year-on-year, with revenue rising 38% and net profit before tax climbing 34 percent.
The company’s financial strength is further underpinned by a sizeable backlog of Dh146 billion and a low debt profile, providing the capacity to pursue acquisitions overseas. Markets under consideration include the United States, India, China and parts of Europe.
What is driving expansion?
Analysts highlight that instead of building projects from scratch, Emaar is looking at non-organic growth. Acquiring established developers offers faster entry, reduced regulatory delays, smoother supply chain operations and access to local expertise. Josh Gilbert, Market Analyst at eToro, noted that buying into existing platforms allows Emaar to cut project lead times and ease market entry barriers.
However, Emaar’s past ventures outside the UAE, including projects in Egypt and Saudi Arabia, delivered mixed results. Analysts point out that disciplined execution will be crucial if the company is to avoid repeating earlier challenges.
With a relatively low debt burden, Emaar retains flexibility in funding potential acquisitions. Still, any deals financed heavily through borrowing or equity issuance could affect dividends and shareholder returns. Investors are watching closely, as successful international expansion could boost valuations, but missteps such as costly write-downs or failed integrations might trigger corrections.
The company’s share price has already risen 65% in the last 12 months, supported by strong domestic performance, backlog growth and margin expansion. Markets may therefore expect overseas deals to be the next catalyst for continued growth.
Emaar’s resilience in the UAE remains a key strength. High occupancy across malls, robust performance in development projects and growing recurring revenue streams continue to support its earnings base. This domestic success provides both the credibility and financial backing needed to compete abroad, while also ensuring that any global push rests on stable foundations.
While international acquisitions carry risks, they are seen as the natural next step for the property major. Whether Emaar can translate its domestic achievements into global markets will shape its growth trajectory in the years ahead.