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DFM:EMAAR

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Asia Markets

UAE Stocks in Green Amid Geopolitical Tensions, Oil Jitters

Stocks in the United Arab Emirates closed higher on Tuesday, as investors shrugged off continued jitters over the US-Iran agreement and oil price volatility.At the close of trading, the FTSE ADX General Index added 0.215%, while the DFM General Index was somewhat muted but up 0.037% in the green.US President Donald Trump expressed no interest in renewing the 60-day memorandum of understanding signed with Iran in June. Trump also threatened military action on Oman if it intervenes in its efforts to reopen the Strait of Hormuz.Reuters reported Monday, citing a senior Iranian official, that Iran will shift to a "fully offensive" military stance as diplomatic efforts to finalize a deal with the US stalled. The media outlet also cited Iranian negotiator Mohammad Baqer Qalibaf on Tuesday, saying that Iran will keep the Strait of Hormuz closed until the US fulfills its conditions, including removal of naval blockade and sanctions, release of frozen assets, and an end to military action on all fronts."With both sides still far apart, investors grew pessimistic that the Strait of Hormuz would properly reopen any time soon. So that meant Brent crude oil prices (+2.65%) rose to $90.87/bbl by the close, their highest level since late July," Deutsche Bank Research said. "In other words, investors are pricing in a more protracted period of higher oil prices again."Zooming in at home, the UAE Central Bank reported a 17.1% increase in the country's banking system's total assets to 5.3 trillion Emirati dirhams at the end of 2025, with a 17.8% growth in loan portfolio. Net profits of the banking system rose 11.7% year-over-year to 90.8 billion dirhams in 2025.Over to corporates, Agility Global (ADX:AGILITY) said that it is exploring options, including a sale, for its Tristar business and is in active discussion with interested parties. Shares of the Abu Dhabi-listed investment and asset management company closed the session 2.99% higher.Emaar Properties (DFM:EMAAR) was the Dubai bourse's most traded stock by value and closed the session 0.18% in the green. The real estate developer's subsidiary Emaar Hospitality Group will launch its Vida Aljada five-star hotel in Sharjah in 2026.

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Research

FAB Securities Reduces Emaar Properties PT, Affirms Buy Rating

FAB Securities on Monday decreased the price target for property developer Emaar Properties (DFM:EMAAR) to 17 Emirati dirhams from 21.75 dirhams, while maintaining a buy rating.

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Research

Citi Trims Emaar Properties PT, Affirms Buy Rating

Citi on Monday lowered the price target for real estate developer Emaar Properties (DFM:EMAAR) to 16.30 Emirati dirhams from 16.50 dirhams, while confirming its buy rating.

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Asia Markets

UAE Stocks Close Mixed as Corporate Earnings Take Center Stage

Markets in the United Arab Emirates ended the trading week diverging as investors digested fresh corporate earnings while weighing uncertainty over US-Iran negotiations.The country's two benchmark indices closed mixed on Friday as Abu Dhabi's FTSE ADX General Index lost 0.256% and Dubai's DFM General Index gained 0.448%.As another busy earnings week came to a close, Dana Gas (ADX:DANA) reported a 47% year-over-year growth in its net profit for the first six months, driven by higher revenue, and closed the session 2.80% higher. Insurance House (ADX:IH) stocks, on the other hand, plunged 4.86% despite a surge in its net profit for the period.Emaar Properties (DFM:EMAAR) and its subsidiary Emaar Development (DFM:EMAARDEV) logged 22% and 48% year-over-year jumps in their first-half attributable profits, respectively. Emaar Properties closed 0.86% lower and was the Dubai bourse's most traded stock by value, while Emaar Development shed 1.62% at closing.On the geopolitical front, markets weighed the initial details of the Iran-Oman agreement to reopen the Hormuz waterway, which comprises a potential ban on US and Israeli vessels, transit fees of 5% to 7% and a penalty of up to 20% of cargo value on hostile countries, and other compensation for damage."Despite clear signs of progress in recent days, the tenor of the rhetoric and growing distrust between the US and Iran mean things could go from bad to worse once again," ING said. "For now, we hold onto our view that flows will start to normalise through the third quarter, which leaves us expecting Brent to average $80/bbl this quarter. However, there's plenty of risk and uncertainty to this view."On the economic calendar next week is the release of July's consumer price index print by the US Bureau of Labor Statistics, providing investors with an overview of inflation and the US Federal Reserve's next monetary policy move.

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Emaar Properties Records 'Resilient' First Half as Revenue, Profit Rise Amid Geopolitical Challenges
US Markets

Emaar Properties Records 'Resilient' First Half as Revenue, Profit Rise Amid Geopolitical Challenges

Emaar Properties (DFM:EMAAR) said Friday it delivered "resilient" results in the first half, with double-digit growth in revenue and profit, despite the geopolitical conditions in the Middle East.The Dubai-listed real estate developer's revenue for the six months ended June 30 rose 21% year over year to 23.91 billion Emirati dirhams. Attributable net profit was 8.67 billion dirhams, up from 7.08 billion dirhams a year ago.Property sales reached 26.6 billion dirhams, while the company's revenue backlog from property sales increased 13% annually to 164.9 billion dirhams as of June 30, providing strong visibility for future revenue. Emaar attributed its first-half performance to its business model and presales pipeline, which allowed the company to manage market variability and capture opportunities as conditions normalize."Our first half results reflect the discipline, consistency, and long-term approach that define Emaar. Dubai never stands still, and neither do we," the company's founder, Mohamed Alabbar, said.Emaar Development (DFM:EMAARDEV), which leads Emaar's build-to-sell property development business in the United Arab Emirates, also reported a 34% annual revenue growth for the period to 13.34 billion dirhams. Its attributable net profit grew to 5.56 billion dirhams from 3.76 billion dirhams. Revenue backlog edged up 8% to 127.7 billion dirhams as of June 30.Shares of Emaar Properties were down nearly 1% in Dubai, while those of Emaar Development were almost 2% in the red.

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Research

Citi Trims Emaar Properties PT, Keeps Buy Rating

Citi on Tuesday reduced its price target for property developer Emaar Properties (DFM:EMAAR) to 16.50 Emirati dirhams from 17.00 dirhams, while maintaining its buy rating.

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Research

AlphaMena Lifts Emaar Properties PT, Affirms Buy Rating

AlphaMena on Thursday increased the price target for real estate developer Emaar Properties (DFM:EMAAR) to 19.90 Emirati dirhams from 19.20 dirhams, while maintaining its buy rating.

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Research

Jefferies Kicks Off Emaar Properties Coverage at Buy

Jefferies on Wednesday started its coverage of real estate developer Emaar Properties (DFM:EMAAR) with a buy rating and a price target of 15 Emirati dirhams.

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Asia Markets

UAE Indices Rebound; Dubai's Emaar Properties Soars

United Arab Emirates equities were back in the green on the last trading day of the week, buoyed by optimism over a possible US-Iran peace deal. At the close of Friday trading, the FTSE ADX General Index added 2.718%, while the DFM General was up 3.84%.US President Donald Trump, in a post on his social media platform Truth Social, said that he is canceling planned attacks on Iran after approval of discussions with Iran's "highest level" leadership. Trump also told White House reporters that a peace deal could be signed over the weekend in Europe.While markets await Iran's official confirmation on the proposed deal, Bloomberg News reported, citing G7 officials, that both countries are moving closer towards signing the agreement, which could take place in Geneva."It's not the first time we've been in this position. Trump has said many times before that a deal is very close, only for hostilities to resume. However, there does appear to be more positive noise around the deal this time, not just from the US but also from other parties involved in the negotiations," ING said. "Obviously, the key is the message coming out of Tehran. And for now, it has been very quiet. Therefore, we would be cautious about assuming that the extension of the ceasefire is a done deal."Closer to home, the Central Bank of the UAE and the World Bank Group agreed to collaborate on financial literacy, digital fraud prevention, and financial dispute resolution as part of an ongoing partnership between the two lenders.Over to corporates, Real estate developer Emaar Properties (DFM:EMAAR) was the Dubai bourse's most traded stock by value and closed 8.33% higher after announcing plans to disclose a 200 billion-dirham master-planned development in Dubai.International Holding Co. (ADX:IHC) shares closed the session flat as it launched the first tranche of its 5 billion-Emirati-dirham share repurchase program to buy back 1.8 billion dirhams worth of shares on Friday.The UAE bourses will be out on June 15 for the new Hijri Year 1448 or the Islamic New Year.

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Asia Markets

UAE Stocks in Red as US Rejects Iran's Response to Peace Plan

Markets in the United Arab Emirates closed lower on Monday as the FTSE ADX General Index fell 0.526%, while the DFM General Index declined 1.39%.Oil prices climbed after US President Donald Trump said in a social media post that he did not like Iran's response to the US peace proposal and deemed it "totally unacceptable." According to reports, Iran's counterproposal included compensation for war damages, full sovereignty over the Strait of Hormuz, and lifting of all sanctions, among others."While optimism for an imminent deal is fading, there remains a glimmer of hope that talks between Trump and Chinese President Xi later this week could yield positive results on Iran. The hope is that China can use its influence over Iran to push it closer towards a peace deal. Clearly, this is easier said than done," ING said.As of 3:43 pm UAE time, the Brent crude oil futures stood at nearly $103.92 per barrel, up 2.60% from the previous day.On the economic front, the US Bureau of Labor Statistics will release the consumer price index report for April on Tuesday, with analysts expecting a 0.5% monthly and a 3.6% annual increase in headline inflation. Core CPI is expected to increase to 0.3% monthly and 2.6% on an annual basis.Back home and on the corporate front, Adnoc Drilling (ADX:ADNOCDRILL) recorded a 5% year-over-year growth in revenue for the first quarter, supported by increased oilfield services and offshore segment activities. Shares of the offshore drilling company closed the session 0.32% in the red.Emaar Development (DFM:EMAARDEV) and Emaar Properties (DFM:EMAAR) shed 2.11% and 1.78%, respectively, despite recording higher attributable profits. Salik (DFM:SALIK), on the other hand, lost 1.71% after its attributable profit and revenue for the period declined year over year.

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Asia Markets

Emirati Equities Gain Amid Key Economic Data Focus; Adnoc Drilling Soars

Shares in the United Arab Emirates kicked off the week higher as the FTSE ADX General Index added 0.320%, while the DFM General Index gained 0.226% at the close of Monday trading.Investors will await the release of the UAE's S&P Global PMI data for April on Tuesday to get insights into the country's non-oil private sector activity. The metric dropped to 52.9 in March from 55 in February.On the oil front, OPEC+ agreed to raise oil output in June by 188,000 barrels per day following the UAE's exit from the group and amid supply disruptions caused by the continued closure of the Strait of Hormuz."The exit of OPEC's third-largest producer substantially weakens the organisation and raises questions over its survival as an effective cartel. As the UAE increases output outside OPEC, the group's share of global supply will decline, reducing its ability to manage prices. If the UAE successfully raises output and revenue outside the cartel, it could also undermine the value of membership for other producers with large reserves or ambitions to raise output, such as Venezuela," Oxford Economics said in a note.On the corporate side, Adnoc Drilling (ADX:ADNOCDRILL) was the Abu Dhabi bourse's most traded by value and closed the session at 9.17% in the green. The offshore drilling company concluded the purchase of an 80% stake in the drilling and oilfield services joint venture MB Petroleum Services.Dubai-listed Parkin Co. (DFM:PARKIN) secured a multi-year parking enforcement services deal from Emaar Properties (DFM:EMAAR) unit Emaar Mall Management. Parkin's stocks ended 1.54% lower while Emaar Properties closed the session 1.70% higher.On the geopolitical front, US President Donald Trump launched "Project Freedom" to guide ships and crews safely out of the Strait of Hormuz, while also adding that his representatives are having "very positive" discussions with Iran."After a volatile week, the oil market is steadier as the market digests President Trump's plan to get vessels through the Strait of Hormuz," ING said. "Reports indicate that, for now, the plan won't involve the US Navy escorting vessels. Even if this allows vessels to leave the Persian Gulf, we're likely to see little inbound traffic. This would only amount to temporary relief, as floating storage leaves the Persian Gulf.

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Research

UBS Reduces Emaar Properties' PT, Keeps at Buy

UBS on Wednesday decreased the price target for property developer Emaar Properties (DFM:EMAAR) to 16.00 Emirati dirhams from 20.10 dirhams and confirmed its buy rating.

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Research

Kepler Cheuvreux Kicks Off Emaar Properties' Coverage at Buy

Kepler Cheuvreux on Monday began its coverage of property company Emaar Properties (DFM:EMAAR) with a buy rating and a price target of 15.50 Emirati dirhams.

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