Dubai's largest developer adds a one-time payout of Dh0.5 per share on top of its regular dividend, a strong sign of confidence in the company and in the Dubai property market
Emaar Properties, the developer behind Burj Khalifa, The Dubai Mall and some of the city's most recognisable communities, has announced a one-time special dividend of Dh4.4 billion (about $1.2 billion) for its shareholders.
The payout works out to Dh0.5 per share and was approved by the company's board at a meeting held on Wednesday, 16 September 2026, where directors discussed Emaar's capital allocation strategy.
In a disclosure to the Dubai Financial Market (DFM), where its shares are listed, Emaar confirmed that the special dividend comes in addition to its regular annual dividend. The company said the move is designed to enhance shareholder value, returning a significant share of the cash generated by its exceptional recent performance directly to investors.
For anyone following Dubai real estate, the announcement is more than a corporate update. It is a clear signal from the market's biggest player about how strong the past two years have been, and how confident the company is about what lies ahead.
A Second Major Payout in Six Months
The special dividend follows an already generous distribution earlier in the year. In March 2026, Emaar's shareholders approved a 100 per cent dividend payout at the company's annual general meeting, amounting to Dh8.8 billion.
A "100 per cent dividend" in the UAE market refers to the nominal value of the share, which for Emaar is Dh1.
In other words, shareholders received Dh1 for every share they held. The new special dividend adds another Dh0.5 per share on top of that.
If the special payout receives final approval, Emaar will have returned around Dh13.2 billion to its shareholders in 2026 alone - Dh8.8 billion through the regular dividend and Dh4.4 billion through the special one. That translates to a combined Dh1.5 per share, one of the most substantial shareholder returns in the company's history.
The Numbers Behind the Decision
The special dividend builds on a run of record results. In 2025, Emaar delivered its strongest year ever across almost every key metric.
Property sales reached Dh80.4 billion, the highest in the company's history and a 16 per cent increase compared to 2024.
Total revenue for the year climbed to Dh49.6 billion, up 40 per cent year-on-year.
EBITDA - earnings before interest, taxes, depreciation and amortisation, a key measure of a company's operating profitability - grew by 33 per cent to Dh25.6 billion.
Net profit before tax reached Dh25.7 billion, marking 36 per cent growth compared to the previous year.
Perhaps the most important figure for the future is the revenue backlog. This represents the value of properties that have already been sold, mostly off-plan, but whose revenue has not yet been recorded in the company's accounts because construction and handover are still under way.
At the end of 2025, Emaar's backlog from property sales stood at Dh155 billion. That figure was up 39 per cent, and it gives the company strong visibility over revenue that will be recognised in the years to come.
Emaar has already secured a large share of its future income. That kind of certainty is exactly what allows a company to hand extra cash back to shareholders without putting its growth plans at risk.
Where the Growth Came From
Emaar's success in 2025 was driven by several parts of its business working together.
At home, the company's UAE development arm remained the main engine. Emaar Development PJSC recorded Dh71.1 billion in UAE property sales, up 9 per cent from 2024, while its net profit before tax grew 52 per cent to Dh15.5 billion.
The company launched 48 new residential projects, including Grand Polo Club and Resort, The Valley, and Bristol at Emaar Beachfront.
Its recurring income businesses also played an important role. Emaar's malls and retail leasing revenue rose 13 per cent to Dh6.3 billion, with occupancy at 98 per cent. This steady stream of rental income helps balance the more cyclical nature of property sales.
Outside the UAE, the company saw a sharp rise in activity. International property sales surged 124 per cent to Dh9.3 billion, with operations across Egypt and India contributing to the growth.
This mix of development, leasing, hospitality and international markets is part of what makes Emaar's position so strong. When one segment slows, others help keep the overall business stable.
What Happens Next
The special dividend is not yet final. It remains subject to approval by shareholders at the company's general assembly, as well as any required regulatory approvals.
Emaar said it will announce further details, including the record date - the date by which an investor must hold shares in order to qualify for the payout - and the payment date, in due course.
Investors who want to benefit from the special dividend should watch closely for these announcements on the DFM.
More Value on the Horizon?
The dividend was not the only topic on the board's agenda. According to the company, directors also reviewed several proposals aimed at using Emaar's various businesses to create additional value for shareholders.
No details of these proposals have been made public. The board has requested further legal and financial analysis on some of them before seeking final approval.
Even so, the fact that the company is actively exploring new ways to unlock value within its portfolio suggests that the special dividend may be only one part of a wider strategy.
Why this Matters for the Dubai Property Market
Emaar is not just another developer. As the largest listed property company in Dubai, its results and decisions are widely seen as a barometer for the health of the entire market.
A special dividend of this size sends several clear messages.
First, it shows that demand for Dubai property has been genuinely strong. Record sales, record revenue and record profit do not happen in a weak market. They reflect real buyers - both residents and international investors - committing capital to the city.
Second, it reflects confidence in the future. Companies usually return extra cash when they believe their core business is healthy and their future income is secure.
With Dh155 billion in backlog, Emaar has a clear pipeline of revenue that will flow in as projects are completed and handed over.
Third, it highlights the depth of the market. The growth in Emaar's international sales, combined with high occupancy across its malls and continued launches in established communities, points to a market that is broad and diverse rather than dependent on a single source of demand.
Founder Mohamed Alabbar credited the wider environment for the results, saying the UAE Government and the city of Dubai have created a framework built on stability, clear regulation and openness to global investment, which allows companies to plan with confidence and focus on execution.
What It Means for Buyers and Investors
For people considering buying property in Dubai, the news carries a practical message. A developer that is financially strong, profitable and well capitalised is generally in a better position to deliver projects on time and to the promised standard.
When buying off-plan, the financial strength of the developer is one of the most important factors to check.
At the same time, strong results at the top of the market do not mean every project or every area offers the same opportunity. Prices, rental yields, handover timelines and future supply vary widely from one community to another.
A development that works well for an end user may not suit an investor looking for rental income, and the reverse is also true.
This is why choosing the right property still requires careful research - looking at the developer, the location, the payment plan and the expected return, rather than relying on headlines alone.
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The Bottom Line
Emaar's Dh4.4 billion special dividend caps off a remarkable period for Dubai's largest developer.
Backed by record sales of Dh80.4 billion, revenue of Dh49.6 billion and a backlog of Dh155 billion, the company is returning a significant share of its success to shareholders while exploring new ways to create value.
Pending final approvals, shareholders stand to receive a combined Dh1.5 per share in 2026. For the wider market, the announcement is a strong vote of confidence in Dubai real estate and in the long-term story behind it.
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