Ratings agencies upgraded Dubai's Emaar after strong financials

Emaar Properties received credit rating upgrades from both S&P Global and Moody's, reflecting its strong financial position. The Dubai-based developer's ratings were raised due to its robust financial performance and strategic direction, coinciding with a potential multi-billion dirham land acquisition in Ras Al Khor. S&P upgraded Emaar to BBB+ and Moody's to Baa1, both with stable outlooks. Emaar's revenue backlog reached Dh127 billion by the end of March 2025, providing strong revenue visibility through 2028. The upgrades also considered Emaar's expanding recurring income portfolio and reduced debt levels.