Solid Earnings May Not Tell The Whole Story For Manazel PJSC (ADX:MANAZEL)
Apr 20
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Emirati (ADX) Real Estate Sector Analysis
UpdatedApr 22, 2026
DataAggregated Company Financials
Companies15
- 7D2.9%
- 3M-9.5%
- 1Y9.0%
- YTD-5.8%
In the last week, the Real Estate industry is up 5.2%, with Emaar Properties PJSC up 5.7%. This takes the industry's 12 month performance to a gain of 8.7%. Looking forward, earnings are forecast to grow by 8.2% annually.
Sector Valuation and Performance
Has the Emirati Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 22 Apr 2026 | د.إ285.8b | د.إ120.2b | د.إ43.0b | 8.1x | 6.6x | 2.4x |
| Fri, 20 Mar 2026 | د.إ268.9b | د.إ119.9b | د.إ42.6b | 7.1x | 6.3x | 2.2x |
| Sun, 15 Feb 2026 | د.إ364.5b | د.إ119.9b | د.إ42.6b | 9.5x | 8.6x | 3x |
| Tue, 13 Jan 2026 | د.إ312.5b | د.إ107.8b | د.إ39.3b | 9.1x | 7.9x | 2.9x |
| Thu, 11 Dec 2025 | د.إ306.3b | د.إ107.8b | د.إ39.5b | 9.5x | 7.8x | 2.8x |
| Sat, 08 Nov 2025 | د.إ307.3b | د.إ107.8b | د.إ39.5b | 11x | 7.8x | 2.9x |
| Mon, 06 Oct 2025 | د.إ307.2b | د.إ98.5b | د.إ36.6b | 9.3x | 8.4x | 3.1x |
| Wed, 03 Sep 2025 | د.إ319.5b | د.إ97.2b | د.إ33.0b | 12.3x | 9.7x | 3.3x |
| Fri, 01 Aug 2025 | د.إ321.0b | د.إ93.8b | د.إ31.3b | 10.7x | 10.3x | 3.4x |
| Sun, 29 Jun 2025 | د.إ288.3b | د.إ91.3b | د.إ30.7b | 8.5x | 9.4x | 3.2x |
| Tue, 27 May 2025 | د.إ267.6b | د.إ91.3b | د.إ30.7b | 8.2x | 8.7x | 2.9x |
| Thu, 24 Apr 2025 | د.إ265.5b | د.إ83.9b | د.إ28.5b | 8.5x | 9.3x | 3.2x |
| Sat, 22 Mar 2025 | د.إ271.0b | د.إ83.9b | د.إ28.4b | 8.8x | 9.6x | 3.2x |
| Mon, 17 Feb 2025 | د.إ287.2b | د.إ84.0b | د.إ28.1b | 9x | 10.2x | 3.4x |
| Wed, 15 Jan 2025 | د.إ265.4b | د.إ76.1b | د.إ26.2b | 9.4x | 10.1x | 3.5x |
| Fri, 13 Dec 2024 | د.إ225.1b | د.إ76.1b | د.إ26.2b | 7.8x | 8.6x | 3x |
| Sun, 10 Nov 2024 | د.إ215.4b | د.إ70.5b | د.إ26.0b | 6.6x | 8.3x | 3.1x |
| Tue, 08 Oct 2024 | د.إ196.4b | د.إ68.2b | د.إ25.6b | 6x | 7.7x | 2.9x |
| Thu, 05 Sep 2024 | د.إ206.5b | د.إ68.2b | د.إ25.6b | 6.4x | 8.1x | 3x |
| Sat, 03 Aug 2024 | د.إ195.4b | د.إ64.6b | د.إ24.8b | 6.5x | 7.9x | 3x |
| Mon, 01 Jul 2024 | د.إ186.4b | د.إ62.5b | د.إ24.4b | 6.8x | 7.6x | 3x |
| Wed, 29 May 2024 | د.إ174.1b | د.إ62.5b | د.إ24.4b | 7x | 7.1x | 2.8x |
| Fri, 26 Apr 2024 | د.إ180.3b | د.إ58.3b | د.إ24.1b | 7.6x | 7.5x | 3.1x |
| Sun, 24 Mar 2024 | د.إ186.7b | د.إ58.3b | د.إ24.0b | 7.2x | 7.8x | 3.2x |
| Tue, 20 Feb 2024 | د.إ177.6b | د.إ58.3b | د.إ23.8b | 10.6x | 7.5x | 3x |
| Thu, 18 Jan 2024 | د.إ168.3b | د.إ51.7b | د.إ19.2b | 13.5x | 8.8x | 3.3x |
| Sat, 16 Dec 2023 | د.إ168.6b | د.إ51.7b | د.إ19.2b | 13.4x | 8.8x | 3.3x |
| Mon, 13 Nov 2023 | د.إ165.6b | د.إ51.6b | د.إ19.1b | 13.3x | 8.7x | 3.2x |
| Wed, 11 Oct 2023 | د.إ172.6b | د.إ49.1b | د.إ16.2b | 11.3x | 10.6x | 3.5x |
| Fri, 08 Sep 2023 | د.إ162.1b | د.إ49.1b | د.إ16.2b | 10.7x | 10x | 3.3x |
| Sun, 06 Aug 2023 | د.إ162.4b | د.إ51.7b | د.إ16.5b | 10.7x | 9.8x | 3.1x |
| Tue, 04 Jul 2023 | د.إ155.3b | د.إ50.8b | د.إ16.1b | 12.1x | 9.7x | 3.1x |
| Thu, 01 Jun 2023 | د.إ145.1b | د.إ50.8b | د.إ16.1b | 13.7x | 9x | 2.9x |
| Sat, 29 Apr 2023 | د.إ145.9b | د.إ51.6b | د.إ15.0b | 14.1x | 9.7x | 2.8x |
Price to Earnings Ratio
9.7x
Current Industry PE
- Investors are pessimistic on the Emirian Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 6.6x which is lower than its 3-year average PE of 8.7x.
- The 3-year average PS ratio of 3.1x is higher than the industry's current PS ratio of 2.4x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 42% per year over the last three years.
- Revenues for these companies have grown 33% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Emirati Real Estate sector?
| AE Market | 0.13% | |
| Real Estate | 2.95% | |
| Real Estate | 3.13% | |
| REITS | 2.20% | |
| Residential REITs | 0% | 0 |
Industry PE
- Investors are most optimistic about the Real Estate industry even though it's trading below its 3-year average PE ratio of 8.8x.
- Analysts are expecting annual earnings growth of 8.2%, which is lower than the prior year's growth of 36.7% per year.
- Investors are most pessimistic about the REITS industry, which is trading below its 3-year average of 2.1x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 8.2% over the next 5 years.
- However this is lower than its past earnings growth rate of 37% per year.
- In contrast, the Real Estate industry is expected to see its earnings grow by 8.2% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| EMAAR Emaar Properties PJSC | د.إ12.68 | 5.7% +د.إ6.0b | 2.7% | PE6.4x | |
| EMAARDEV Emaar Development PJSC | د.إ15.40 | 2.7% +د.إ1.6b | 30.0% | PE5.4x | |
| ANAN Anan Investment Holding PJSC | د.إ1.43 | 34.9% +د.إ855.7m | n/a | PE69.5x | |
| RAKPROP RAK Properties PJSC | د.إ1.08 | 9.4% +د.إ278.8m | -12.2% | PE8x | |
| ESHRAQ Eshraq Investments PJSC | د.إ0.43 | 6.5% +د.إ69.8m | -12.9% | PE17.9x |
