Emaar Development, the UAE development arm of Emaar Properties, has successfully acquired a new land plot in Dubai for AED2.9 billion, which is approximately $790 million. This acquisition is aimed at facilitating the potential expansion of its master communities. The land was purchased from Amlak Property Investment and is located in Ras Al Khor.

The size of the land plot has not been disclosed, but the deal is anticipated to be finalized by July 31. Ras Al Khor is notable for its wetland reserve that attracts migratory birds, highlighting the area’s ecological significance. The region has also seen development activity from Dubai government-backed Wasl Properties and private developer Sobha Realty, who have launched projects in the vicinity.

In 2024, Emaar Development had previously acquired 141 million square feet of prime development land, with a total projected value of AED96 billion, according to chairman Adnan Kazim’s statement in the integrated annual report for that year. The company reported that its backlog growth exceeded AED100 billion by the end of the first quarter of 2025, representing a 52 percent increase year on year. The backlog indicates future revenue from property sales that will be recognized in the upcoming years.

Emaar Development maintains a substantial land bank of 170 million square feet for potential development in the UAE. At an average development rate, this land bank is expected to meet sales needs for at least 12 years, as stated on the company’s website. On the Dubai Financial Market, Emaar’s shares closed at AED13.40, marking a 0.4 percent increase on Friday.