Dubai Developer Emaar Posts Rise in Quarterly Profit

By Farhan Rafid

Dubai developer Emaar Properties posted a 35% jump in quarterly profit, buoyed by higher property sales at the start of the year.

Emaar, one of Dubai's biggest developers, said net profit rose to 5.00 billion U.A.E. dirham ($1.36 billion) from 3.71 billion dirham in the same period a year earlier.

Investors are now looking for signs on how the war in the Middle East has impacted Dubai, which became one of the world's top trade and tourism centers on the back of its long-standing reputation of being a safe haven in a volatile region. Iran since Feb. 28 has fired hundreds of missiles and drones at the United Arab Emirates, of which Dubai is a part, testing that notion.

Property consultancy Savills said last week a significant proportion of buyers are adopting a wait-and-see approach amid evolving macroeconomic and geopolitical conditions, based on an investor sentiment survey it conducted.

Emaar said some impact has been observed post the start of the conflict in hospitality and certain entertainment businesses that are dependent on visitor flows but noted these represent a smaller portion of the group's overall performance.

Emaar said the group's real-estate development operations remain well supported by a strong backlog, continuing construction activity, and customer collections broadly in line with expectations.

While Emaar is a prominent developer with a proven track record, some other property companies in Dubai could find it more challenging if the war continues for longer, some property brokers say.

Iran dismissed U.S. President Trump's apparent rejection of its proposal to end the war, the latest comment in stalled efforts to get both sides back to the negotiating table.

Write to Farhan Rafid at farhan.rafid@wsj.com

(END) Dow Jones Newswires

May 11, 2026 11:36 ET (15:36 GMT)