Dubai Developer Emaar Posts Profit Rise Despite Regional Conflict

By Farhan Rafid

Dubai developer Emaar Properties posted an increase in second-quarter profit despite disruptions from the Iran war, buoyed by continuing projects and stable occupancy across its portfolio.

Emaar, one of Dubai's biggest developers, said Friday that net profit rose to 3.67 billion U.A.E. dirham ($1.00 billion) from 3.37 billion dirham in the same period a year earlier.

The company said that project execution and steady occupancy supported its performance during the period, while it maintained a more measured approach to new project launches amid the evolving regional environment.

Its hospitality, leisure and entertainment businesses were hurt by softer international tourism flows, though local demand partly offset the weakness, the company said.

Emaar said its 164.9 billion dirham revenue backlog, development pipeline and recurring-income businesses leave it well positioned as conditions normalize. Revenue for the second quarter was 11.51 billion dirham compared with 9.74 billion dirham.

Founder and Chairman Mohamed Alabbar said Dubai's stable and business-friendly environment continued to attract capital and talent despite a more uncertain global backdrop.

Property consultancy Engel & Volkers said regional uncertainty slowed Dubai home-buying activity during the quarter, with the impact most visible in May before transactions recovered in June as deferred deals were completed and confidence began to improve.

Iran's missile and drone attacks on the U.A.E. since the start of the conflict in February continued into the second quarter, testing Dubai's longstanding reputation as a haven for investment and tourism in a volatile region.

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

(END) Dow Jones Newswires

August 07, 2026 05:56 ET (09:56 GMT)