UAE property developers’ Q2 earnings miss estimates by 3%

UAE-listed property developers announced their Q2 2026 results, which came in below the average estimates of research firms tracked by Argaam.

The aggregate actual earnings of companies covered by research firms stood at around AED 8.88 billion, compared with average estimates of AED 9.20 billion, representing a 3% shortfall.

Actual results across the sector were mixed. Emaar Properties and Emaar Development posted negative surprises, with actual earnings coming in 13% and 1% below average estimates, respectively.

By contrast, Aldar Properties and TECOM Group delivered positive surprises, with actual earnings exceeding research firms’ Q2 2026 average estimates by 12% and 3%, respectively.

The following table compares property developers’ Q2 2026 actual earnings with research firms’ average estimates:

Average Research Firms’ Estimates vs. Actual Results – AED mln

Seven research firms provided Q2 2026 earnings estimates for property developers listed on the UAE markets. FAB Securities provided the closest estimates for Emaar Development and Aldar Properties.

Meanwhile, Ubhar Capital provided the closest estimate for Emaar Properties, while Goldman Sachs was the closest for TECOM Group.

The following table shows the closest estimates for property developers’ Q2 2026 results:

Closest Research Firms’ Estimates for Q2 2026 Results – AED mln