Dubai seems to have entered 2025 in top gear. Several major players in the UAE market have posted strong Q1 results, from aviation to real estate to urban mobility. What’s driving this economic high? Let’s break down what happened across the top sectors and understand the numbers behind the optimism.
Emaar Development: Building beyond expectations
Emaar Development, best known for shaping Dubai’s skyline, delivered a blockbuster Q1 for FY2025.
- Property sales rose 28% year-on-year to AED16.5 Bn ($ 4.5 Bn) from AED12.9 Bn ($ 3.5 Bn) in Q1 FY2024.
- Revenue backlog hit AED100.1 Bn ($ 27.3 Bn), a 52% increase YoY, indicating strong forward revenue visibility.
- Revenue grew 43% to AED5 Bn ($ 1.4 Bn)
- Net profit (before tax) jumped 49% to AED2.8 Bn ($ 753 Mn)
Q1 FY2025 Highlights – Emaar Development
| Metric | Q1 FY2025 | Q1 FY2024 | % Change |
| Property Sales (AED) | 16.5 Bn | 12.9 Bn | 28% |
| Revenue (AED) | 5.0 Bn | ~3.5 Bn | 43% |
| Net Profit (AED) | 2.8 Bn | ~1.88 Bn | 49% |
| Backlog (AED) | 100.1 Bn | ~65.9 Bn | 52% |
What’s even more impressive? Emaar launched 12 new projects across its masterplans and is actively building over 43,500 units, in addition to the 76,000 units it has delivered since 2002. This pace signals strong confidence in Dubai’s residential market.
Emirates Group: Flying higher than ever
Emirates Group made headlines in aviation as it posted its best-ever financial performance in FY2024–25.
- Group profit before tax reached AED22.7 Bn ($ 6.2 Bn), up 18% YoY
- Emirates Airline’s profit before tax was AED21.2 Bn ($ 5.8 Bn), up 20% YoY
- Group revenue climbed to AED145.4 Bn ($ 39.6 Bn)
- Cash assets hit AED53.4 Bn ($ 14.6 Bn), up 13%
- A dividend of AED6 Bn ($ 1.6 Bn) was declared
FY2025 Snapshot – Emirates Group
| Metric | FY2024–25 | % Change (YoY) |
| Group Profit (AED) | 22.7 Bn | 18% |
| Emirates Airline Profit (AED) | 21.2 Bn | 20% |
| Group Revenue (AED) | 145.4 Bn | 6% |
| Cash Assets (AED) | 53.4 Bn | 13.00% |
| EBITDA | 42.2 Bn | 6.00% |
With operations in 148 destinations across 80 countries, Emirates isn’t slowing down. The airline added 4 Airbus A350s, expanded its cargo division to 2.3 Mn tonnes (up 7%), and invested AED14 Bn ($ 3.8 Bn) in growth. Their cargo arm contributed AED16.1 Bn to total revenue.
Despite the UAE’s new corporate tax (9%), Emirates still reported a strong post-tax profit of AED20.5 Bn ($ 5.6 Bn).
Dubai Taxi Company quarter highlights:
Dubai Taxi Company (DTC) clocked AED588.3 Mn in revenue in Q1 FY2025, up 5% YoY. Its performance was backed by:
- 13 Mn trips, an 8% growth from Q1 last year
- A growing electric fleet, now at 6,200+ vehicles, with over 86% being hybrid or electric
- A new 5-year partnership with Dubai Airports worth AED2.5 Bn
However, promotions and launch costs related to its Bolt partnership impacted short-term profit:
- EBITDA fell 9% to AED154 Mn
- Net profit dropped 23% to AED84 Mn
Q1 FY2025 Performance – DTC
| Metric | Q1 FY2025 | % Change (YoY) |
| Revenue (AED) | 588.3 Mn | 5% |
| Trips Completed | 13 Mn | 8% |
| EBITDA (AED) | 154 Mn | -9% |
| Net Profit (AED) | 84 Mn | -23% |
DTC also paid out AED122.3 Mn in dividends for H2 2024 and remains committed to sustainability under Dubai 2040 goals.
Dubai hamber of Commerce quarter results
The Dubai Chamber of Commerce posted a 17% increase in Q1 2025 exports and re-exports, totalling $ 23.4 Bn.
Other major Q1 achievements include:
- 204,240 Certificates of Origin issued, up 7%
- 18,160 new companies joined the chamber
- 28 local firms expanded into new global markets
- 1,656 ATA Carnets issued, worth AED984 Mn ($ 268 Mn)
This shows how Dubai is not just building skyscrapers, but also exporting economic muscle to the world.
Final thoughts:
From Emaar’s real estate dominance to Emirates’ global aviation leadership and DTC’s fleet modernisation, UAE’s Q1 FY2025 paints a picture of a diversified, forward-looking economy. The numbers indicate that sectors like real estate, transport, aviation, and trade are not just growing, they’re compounding with vision. As Dubai positions itself as a global economic hub, the question isn’t just how long this momentum can last, but how far can it go?
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