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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
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HONG KONG, Dec. 29, 2025 /PRNewswire/ -- CNN's Tomorrow Transformed examines how society and businesses are changing through innovation and technology, and what this means for the future. The latest episode examines the diverse innovations driving a cleaner future – from making the aviation industry greener through sustainable jet fuel to advancing solar efficiency and developing revolutionary hydrogen power solutions.
Tomorrow Transformed travels to Sydney, Australia, to explore the global energy revolution being led by the University of New South Wales (UNSW). Known as a "hotbed of innovation" in photovoltaics, the institution is home to Professor Martin Green, the "father of solar energy," whose PERC Cell design is used in over 90% of solar cells installed worldwide. At UNSW, Professor Ned Ekins-Daukes and PhD student Jamie Harrison are demonstrating how thermodynamics can be used to harvest energy as heat leaves the earth's surface for the cold sky. While solar now provides the cheapest energy in history, researchers are pushing further to eliminate manufacturing bottlenecks. Vince Allen, co-founder of the startup SunDrive, is pioneering a shift away from expensive and rare silver in solar cell production, replacing it with copper - a material that is 1000 times more abundant and 100 times cheaper.
The journey continues to Cape Town, South Africa, where HYENA (Hydrogen Energy Applications) is reimagining how the world's most abundant element can provide reliable power to the African continent. CNN speaks with HYENA co-founder Jack Fletcher to explore how their "Power Pod" technology uses hydrogen to offer a quieter, more efficient, and significantly cleaner alternative to traditional diesel generators. By converting available fuels like LPG into electricity via a chemical process rather than combustion, the system drastically reduces emissions and eliminates the noise of a standard engine.
Lastly, Tomorrow Transformed visits Hong Kong-based biofuels company, EcoCeres, in the southern region of Johor in Malaysia. A global leader in sustainable aviation fuel (SAF), EcoCeres is helping to power a more environmentally friendly future for air travel through advanced, low carbon jet fuel made from renewable resources.
In its state-of-the-art biorefinery, the company is re-engineering waste and residue oil, known as 'feedstock', from food factories, palm oil mills and restaurants across the region. The end product is an eco jet fuel that has the right freezing point and structure for flying at cruising altitude, ready to be pumped directly into waiting airplanes. At full capacity, the biorefinery will be able to produce 420,000 tonnes of fuel per year, with large quantities of SAF powering partner airlines including Cathay Pacific, Qantas and British Airways.
Matti Lievonen, CEO of EcoCeres, though proud of the science behind transforming waste feedstock into a viable jet fuel alternative, states that the real innovation is in the system his company has in place. EcoCeres is actively expanding its presence across Southeast Asia to complement its existing refinery and strong feedstock network in China and is looking to replicate this model in other markets.
In the very near future, the next flight you take may be powered by recycled cooking oil from a restaurant in Beijing, street food stalls in Malaysia or from a factory that produces your favourite brand of potato chips.
Tomorrow Transformed trailers: https://bit.ly/3KWFFfF
Tomorrow Transformed images: https://bit.ly/4jb0DE9
Airtimes for 30-minute special:
Sunday, 28th December at 5am, 12pm and 8pm HKT
About CNN International
CNN's portfolio of news and information services is available in seven different languages across all major TV, digital and mobile platforms, reaching more than 379 million households around the globe. CNN International is the number one international TV news channel according to all major media surveys across Europe, the Middle East and Africa, the Asia Pacific region, and Latin America and has a US presence that includes CNNgo. CNN Digital is a leading network for online news, mobile news and social media. CNN is at the forefront of digital innovation and continues to invest heavily in expanding its digital global footprint, with a suite of award-winning digital properties and a range of strategic content partnerships, commercialised through a strong data-driven understanding of audience behaviours. CNN has won multiple prestigious awards around the world for its journalism. Around 1,000 hours of long-form series, documentaries and specials are produced every year by CNNI's non-news programming division. CNN has 36 editorial offices and more than 1,100 affiliates worldwide through CNN Newsource. CNN International is a Warner Bros. Discovery company.
HONG KONG, Dec. 29, 2025 /PRNewswire/ -- CNN's Tomorrow Transformed examines how society and businesses are changing through innovation and technology, and what this means for the future. The latest episode examines the diverse innovations driving a cleaner future – from making the aviation industry greener through sustainable jet fuel to advancing solar efficiency and developing revolutionary hydrogen power solutions.
Tomorrow Transformed travels to Sydney, Australia, to explore the global energy revolution being led by the University of New South Wales (UNSW). Known as a "hotbed of innovation" in photovoltaics, the institution is home to Professor Martin Green, the "father of solar energy," whose PERC Cell design is used in over 90% of solar cells installed worldwide. At UNSW, Professor Ned Ekins-Daukes and PhD student Jamie Harrison are demonstrating how thermodynamics can be used to harvest energy as heat leaves the earth's surface for the cold sky. While solar now provides the cheapest energy in history, researchers are pushing further to eliminate manufacturing bottlenecks. Vince Allen, co-founder of the startup SunDrive, is pioneering a shift away from expensive and rare silver in solar cell production, replacing it with copper - a material that is 1000 times more abundant and 100 times cheaper.
The journey continues to Cape Town, South Africa, where HYENA (Hydrogen Energy Applications) is reimagining how the world's most abundant element can provide reliable power to the African continent. CNN speaks with HYENA co-founder Jack Fletcher to explore how their "Power Pod" technology uses hydrogen to offer a quieter, more efficient, and significantly cleaner alternative to traditional diesel generators. By converting available fuels like LPG into electricity via a chemical process rather than combustion, the system drastically reduces emissions and eliminates the noise of a standard engine.
Lastly, Tomorrow Transformed visits Hong Kong-based biofuels company, EcoCeres, in the southern region of Johor in Malaysia. A global leader in sustainable aviation fuel (SAF), EcoCeres is helping to power a more environmentally friendly future for air travel through advanced, low carbon jet fuel made from renewable resources.
In its state-of-the-art biorefinery, the company is re-engineering waste and residue oil, known as 'feedstock', from food factories, palm oil mills and restaurants across the region. The end product is an eco jet fuel that has the right freezing point and structure for flying at cruising altitude, ready to be pumped directly into waiting airplanes. At full capacity, the biorefinery will be able to produce 420,000 tonnes of fuel per year, with large quantities of SAF powering partner airlines including Cathay Pacific, Qantas and British Airways.
Matti Lievonen, CEO of EcoCeres, though proud of the science behind transforming waste feedstock into a viable jet fuel alternative, states that the real innovation is in the system his company has in place. EcoCeres is actively expanding its presence across Southeast Asia to complement its existing refinery and strong feedstock network in China and is looking to replicate this model in other markets.
In the very near future, the next flight you take may be powered by recycled cooking oil from a restaurant in Beijing, street food stalls in Malaysia or from a factory that produces your favourite brand of potato chips.
Tomorrow Transformed trailers: https://bit.ly/3KWFFfF
Tomorrow Transformed images: https://bit.ly/4jb0DE9
Airtimes for 30-minute special:
Sunday, 28th December at 5am, 12pm and 8pm HKT
About CNN International
CNN's portfolio of news and information services is available in seven different languages across all major TV, digital and mobile platforms, reaching more than 379 million households around the globe. CNN International is the number one international TV news channel according to all major media surveys across Europe, the Middle East and Africa, the Asia Pacific region, and Latin America and has a US presence that includes CNNgo. CNN Digital is a leading network for online news, mobile news and social media. CNN is at the forefront of digital innovation and continues to invest heavily in expanding its digital global footprint, with a suite of award-winning digital properties and a range of strategic content partnerships, commercialised through a strong data-driven understanding of audience behaviours. CNN has won multiple prestigious awards around the world for its journalism. Around 1,000 hours of long-form series, documentaries and specials are produced every year by CNNI's non-news programming division. CNN has 36 editorial offices and more than 1,100 affiliates worldwide through CNN Newsource. CNN International is a Warner Bros. Discovery company.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
CNN's Tomorrow Transformed explores global innovations powering a greener future
