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DUBAI, UAE, June 11, 2025 /PRNewswire/ -- Emaar Properties PJSC (DFM: EMAAR), one of the world's most valuable and respected real estate development companies, has announced that both S&P Global Ratings and Moody's Ratings have upgraded the company's long-term issuer credit ratings, reinforcing Emaar's position as a financially resilient and strategically agile market leader.
S&P Global Ratings upgraded its long-term issuer credit rating to BBB+ from BBB, while Moody's upgraded Emaar's long-term issuer rating to Baa1 from Baa2, both with stable outlooks. These upgrades reflect Emaar's robust financial fundamentals, consistent performance, and sound strategic direction.
The same S&P and Moody's rating upgrade has been applied to Emaar's senior unsecured debt.
As of March 2025, Emaar reported a revenue backlog of approximately US$ 34.6 billion, providing strong revenue and cash flow visibility through 2028. The company's recurring income portfolio continues to expand, supported by disciplined execution, resilient operations, and diversified income streams.
S&P's upgrade was driven by Emaar's record-high backlog of US$ 29.9 billion as of December 2024, and healthy presales in the UAE of US$ 17.8 billion during 2024, alongside a net cash position, low leverage, and strong adjusted EBITDA margins.
Moody's highlighted significant reduction in adjusted debt of Emaar from 2020 to March 2025 and the drop in debt-to-equity ratio over the same period.
Mohamed Alabbar, Founder of Emaar, said: "We are proud to receive this recognition from both S&P and Moody's, which underscores the strength of our strategy, the quality of our assets, and the discipline we maintain in financial management. These upgrades reflect not only our performance, but also the confidence in Dubai's economy and real estate market. We will continue to pursue sustainable growth, innovation, and value creation for our shareholders and stakeholders alike."
Emaar reported an interest coverage ratio of approximately 24 times for the year ending March 2025 and holds US$ 6.9 billion in cash (excluding escrow balances), along with US$ 2 billion in undrawn committed credit facilities, providing ample liquidity and financial flexibility.
S&P noted that Emaar's strong mall, hospitality, and entertainment operations, in addition to the resilience of its real estate development business, contributed to the rating action. Dubai Mall recorded over 111 million visitors in 2024, with overall mall portfolio occupancy of 98.5%.
These dual upgrades reinforce Emaar's reputation as a leading player in the global real estate sector.
DUBAI, UAE, June 11, 2025 /PRNewswire/ -- Emaar Properties PJSC (DFM: EMAAR), one of the world's most valuable and respected real estate development companies, has announced that both S&P Global Ratings and Moody's Ratings have upgraded the company's long-term issuer credit ratings, reinforcing Emaar's position as a financially resilient and strategically agile market leader.
S&P Global Ratings upgraded its long-term issuer credit rating to BBB+ from BBB, while Moody's upgraded Emaar's long-term issuer rating to Baa1 from Baa2, both with stable outlooks. These upgrades reflect Emaar's robust financial fundamentals, consistent performance, and sound strategic direction.
The same S&P and Moody's rating upgrade has been applied to Emaar's senior unsecured debt.
As of March 2025, Emaar reported a revenue backlog of approximately US$ 34.6 billion, providing strong revenue and cash flow visibility through 2028. The company's recurring income portfolio continues to expand, supported by disciplined execution, resilient operations, and diversified income streams.
S&P's upgrade was driven by Emaar's record-high backlog of US$ 29.9 billion as of December 2024, and healthy presales in the UAE of US$ 17.8 billion during 2024, alongside a net cash position, low leverage, and strong adjusted EBITDA margins.
Moody's highlighted significant reduction in adjusted debt of Emaar from 2020 to March 2025 and the drop in debt-to-equity ratio over the same period.
Mohamed Alabbar, Founder of Emaar, said: "We are proud to receive this recognition from both S&P and Moody's, which underscores the strength of our strategy, the quality of our assets, and the discipline we maintain in financial management. These upgrades reflect not only our performance, but also the confidence in Dubai's economy and real estate market. We will continue to pursue sustainable growth, innovation, and value creation for our shareholders and stakeholders alike."
Emaar reported an interest coverage ratio of approximately 24 times for the year ending March 2025 and holds US$ 6.9 billion in cash (excluding escrow balances), along with US$ 2 billion in undrawn committed credit facilities, providing ample liquidity and financial flexibility.
S&P noted that Emaar's strong mall, hospitality, and entertainment operations, in addition to the resilience of its real estate development business, contributed to the rating action. Dubai Mall recorded over 111 million visitors in 2024, with overall mall portfolio occupancy of 98.5%.
These dual upgrades reinforce Emaar's reputation as a leading player in the global real estate sector.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
S&P and Moody's Upgrade Emaar's Credit Ratings, Citing Strong Financial Performance and Robust Revenue Visibility
S&P and Moody's Upgrade Emaar's Credit Ratings, Citing Strong Financial Performance and Robust Revenue Visibility
S&P and Moody's Upgrade Emaar's Credit Ratings, Citing Strong Financial Performance and Robust Revenue Visibility
ZHUHAI, China, Jan. 9, 2026 /PRNewswire/ -- Recently, Kingsoft Office, a leading Chinese office software company, and global IT services provider, FPT, today announced the signing of a Strategic Cooperation Memorandum of Understanding (MoU).
Under the MoU, the two parties will collaborate closely on the localization of WPS 365 in Vietnam, user growth initiatives, joint solution development, and global delivery services, with the shared goal of accelerating digital transformation for organizational users in Vietnam and across global markets.
Deepening Engagement in Vietnam to Accelerate WPS 365 Localization
As one of Southeast Asia's fastest-growing digital economies, Vietnam's digital economy accounted for 18.3% of GDP in 2024, growing at over 20%—more than three times the country's overall GDP growth rate. This rapid expansion positions Vietnam as a key global growth market for collaborative office solutions.
With digital transformation elevated to a national priority by the Vietnamese government, demand for intelligent and integrated workplace tools continues to rise. This strategic partnership is well aligned with Vietnam's market-specific localization requirements and evolving enterprise needs.
Pursuant to the MoU, Kingsoft Office and FPT will jointly advance the deep localization of WPS 365 in Vietnam, including Vietnamese language optimization and the development of localized features. Leveraging their respective product, technology, and solution capabilities, the two parties will pursue functional integration and co-develop joint solutions.
Through joint go-to-market and marketing initiatives, the partners aim to deliver co-branded, end-to-end intelligent office solutions tailored to the Vietnamese market, accelerating adoption across industries and driving user growth among enterprise, government, and individual segments.
Kingsoft Office has previously established a strong user base in Vietnam, with nearly 5 million monthly active devices achieved through the Vietnamese version of WPS Office. This has laid a solid foundation for the localization and market expansion of WPS 365.
Building on WPS Office, WPS 365 integrates core workplace applications, including messaging, meetings, calendars, email, and task management into a unified platform. With features such as compatibility with mainstream Office formats, intelligent productivity capabilities, seamless cross-device synchronization, and real-time multi-user collaboration, WPS 365 enables Vietnamese users to manage end-to-end work processes within a single platform, significantly enhancing productivity and collaboration efficiency.
This partnership is expected to further strengthen both parties' combined capabilities in Vietnam's digital workplace and delivery ecosystem, injecting new momentum into the digital transformation of organizational users nationwide.
Expanding Global Reach Through Professional Delivery Service
The MoU also reflects a shared commitment by both parties to jointly expand into global markets. Under the partnership, FPT will serve as Kingsoft Office's global delivery partner, providing WPS 365 implementation, training, and technical support in international markets, including Vietnam and Japan.
Kingsoft Office will provide product, technical, and enablement support, while both parties will work together to enhance customer success and overall service delivery capabilities across overseas markets. In parallel, Kingsoft Office will leverage its local ecosystem resources to support FPT's expansion in China, jointly empowering the global growth of Chinese enterprises.
Mr. Jiang Zhiqiang, Senior Vice President of Kingsoft Office, commented: "Since 1988, Kingsoft Office has been committed to the development and innovation of office software and has built a strong global user base. We look forward to working closely with our partners to combine our respective strengths and bring WPS 365 to global markets, delivering secure, efficient, and intelligent one-stop collaborative office solutions to users worldwide."
Mr. Phạm Thanh Tuấn, CEO of FPT China, FPT Corporation, added: "With our experienced expert teams and extensive global customer network, FPT is pleased to deepen its strategic cooperation with Kingsoft Office. Together, we aim to build a comprehensive and sustainable partnership that creates long-term business value for both parties and supports our joint expansion into international markets."
About Kingsoft Office
Kingsoft Office is a leading Chinese provider of office software products and services. With a comprehensive and diversified product portfolio, the company offers WPS Office, the WPS 365 collaborative office platform, and WPS AI applications, collectively addressing a full spectrum of needs ranging from individual productivity to enterprise-level collaboration.
Leveraging its strong product capabilities and long-term technology expertise, Kingsoft Office now serves users in more than 220 countries and regions worldwide. As of September 2025, its major products recorded 669 million monthly active devices and are available across a wide range of mainstream platforms, including Windows, Linux, macOS, Android, iOS, and HarmonyOS.
About FPT Corporation
FPT Corporation (FPT) is a globally leading technology and IT services provider headquartered in Vietnam, operating in three core sectors: Technology, Telecommunications, and Education. Over more than three decades, FPT has consistently delivered impactful solutions to millions of individuals and tens of thousands of organizations worldwide. As an AI-first company, FPT is committed to elevating Vietnam's position on the global tech map and delivering world-class AI-enabled solutions for global enterprises. FPT focuses on three critical transformations: Digital Transformation, Intelligence Transformation, and Green Transformation. In 2024, FPT reported a total revenue of USD 2.47 billion and a workforce of over 54,000 employees across its core businesses. For more information about FPT's global IT services, please visit https://fptsoftware.com.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Kingsoft Office and FPT Enter Strategic Partnership to Accelerate WPS 365 and Global Delivery Collaboration
