Narrative Update • Jun 04
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Emirati (ADX) Real Estate Sector Analysis
UpdatedJun 06, 2026
DataAggregated Company Financials
Companies15
- 7D-3.6%
- 3M-16.5%
- 1Y-8.0%
- YTD-14.4%
Over the last 7 days, the Real Estate industry has dropped 3.6%, driven by declines in Emaar Properties PJSC and Aldar Properties PJSC of 3.7% and 5.8%, respectively. On the other hand Manazel PJSC is actually up 12%. Overall the industry is down 8.0% in 12 months. As for the next few years, earnings are expected to grow by 7.1% per annum.
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 |
|---|---|---|---|---|---|---|
| Sat, 06 Jun 2026 | د.إ259.9b | د.إ125.3b | د.إ45.7b | 7.4x | 5.7x | 2.1x |
| Mon, 04 May 2026 | د.إ270.9b | د.إ120.2b | د.إ43.0b | 8x | 6.3x | 2.3x |
| Wed, 01 Apr 2026 | د.إ260.3b | د.إ119.9b | د.إ43.0b | 7.2x | 6.1x | 2.2x |
| Fri, 27 Feb 2026 | د.إ369.5b | د.إ119.9b | د.إ42.6b | 9.2x | 8.7x | 3.1x |
| Sun, 25 Jan 2026 | د.إ325.5b | د.إ107.8b | د.إ39.3b | 9.1x | 8.3x | 3x |
| Tue, 23 Dec 2025 | د.إ304.9b | د.إ107.8b | د.إ39.5b | 9.3x | 7.7x | 2.8x |
| Thu, 20 Nov 2025 | د.إ295.5b | د.إ107.8b | د.إ39.5b | 9x | 7.5x | 2.7x |
| Sat, 18 Oct 2025 | د.إ307.7b | د.إ98.5b | د.إ36.6b | 11.8x | 8.4x | 3.1x |
| Mon, 15 Sep 2025 | د.إ322.3b | د.إ99.1b | د.إ36.8b | 11.6x | 8.8x | 3.3x |
| Wed, 13 Aug 2025 | د.إ321.8b | د.إ97.1b | د.إ32.9b | 12.3x | 9.8x | 3.3x |
| Fri, 11 Jul 2025 | د.إ301.0b | د.إ91.3b | د.إ30.7b | 9.2x | 9.8x | 3.3x |
| Sun, 08 Jun 2025 | د.إ281.4b | د.إ91.3b | د.إ30.7b | 8.3x | 9.2x | 3.1x |
| Tue, 06 May 2025 | د.إ274.8b | د.إ86.3b | د.إ29.0b | 8.6x | 9.5x | 3.2x |
| Thu, 03 Apr 2025 | د.إ271.6b | د.إ83.9b | د.إ28.4b | 8.6x | 9.5x | 3.2x |
| Sat, 01 Mar 2025 | د.إ280.0b | د.إ84.0b | د.إ28.1b | 8.9x | 10x | 3.3x |
| Mon, 27 Jan 2025 | د.إ273.3b | د.إ76.1b | د.إ26.2b | 9.3x | 10.4x | 3.6x |
| Wed, 25 Dec 2024 | د.إ259.0b | د.إ76.1b | د.إ26.2b | 8.8x | 9.9x | 3.4x |
| Fri, 22 Nov 2024 | د.إ226.9b | د.إ76.0b | د.إ26.2b | 7.4x | 8.7x | 3x |
| Sun, 20 Oct 2024 | د.إ202.6b | د.إ68.2b | د.إ25.6b | 6.2x | 7.9x | 3x |
| Tue, 17 Sep 2024 | د.إ204.7b | د.إ68.2b | د.إ25.6b | 6.3x | 8x | 3x |
| Thu, 15 Aug 2024 | د.إ195.9b | د.إ68.2b | د.إ25.7b | 6.1x | 7.6x | 2.9x |
| Sat, 13 Jul 2024 | د.إ189.0b | د.إ62.5b | د.إ24.4b | 6.7x | 7.8x | 3x |
| Mon, 10 Jun 2024 | د.إ171.7b | د.إ62.5b | د.إ24.4b | 6.7x | 7x | 2.7x |
| Wed, 08 May 2024 | د.إ182.9b | د.إ60.9b | د.إ24.7b | 7.4x | 7.4x | 3x |
| Fri, 05 Apr 2024 | د.إ185.3b | د.إ58.2b | د.إ23.9b | 8.2x | 7.7x | 3.2x |
| Sun, 03 Mar 2024 | د.إ182.3b | د.إ58.3b | د.إ23.8b | 11.3x | 7.7x | 3.1x |
| Tue, 30 Jan 2024 | د.إ165.2b | د.إ51.8b | د.إ19.3b | 13.1x | 8.5x | 3.2x |
| Thu, 28 Dec 2023 | د.إ171.3b | د.إ51.7b | د.إ19.2b | 13.6x | 8.9x | 3.3x |
| Sat, 25 Nov 2023 | د.إ166.2b | د.إ51.7b | د.إ19.1b | 14.1x | 8.7x | 3.2x |
| Mon, 23 Oct 2023 | د.إ147.8b | د.إ49.1b | د.إ16.2b | 10.2x | 9.1x | 3x |
| Wed, 20 Sep 2023 | د.إ164.6b | د.إ49.1b | د.إ16.2b | 10.9x | 10.2x | 3.4x |
| Fri, 18 Aug 2023 | د.إ157.9b | د.إ49.1b | د.إ16.2b | 10.6x | 9.7x | 3.2x |
| Sun, 16 Jul 2023 | د.إ160.8b | د.إ50.8b | د.إ16.1b | 11.4x | 10x | 3.2x |
| Tue, 13 Jun 2023 | د.إ144.9b | د.إ50.8b | د.إ16.1b | 12.4x | 9x | 2.9x |
Price to Earnings Ratio
9x
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 5.7x which is lower than its 3-year average PE of 8.6x.
- The 3-year average PS ratio of 3.1x is higher than the industry's current PS ratio of 2.1x.
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 35% 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 | -0.90% | |
| Real Estate | -3.57% | |
| Residential REITs | 0% | 0 |
| REITS | -1.40% | |
| Real Estate | -3.81% | |
Industry PE
- Investors are most optimistic about the Real Estate industry even though it's trading below its 3-year average PE ratio of 8.6x.
- Analysts are expecting annual earnings growth of 7.1%, which is lower than the prior year's growth of 34.1% 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 7.1% over the next 5 years.
- However this is lower than its past earnings growth rate of 34% per year.
- In contrast, the Real Estate industry is expected to see its earnings grow by 7.1% 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 | |
|---|---|---|---|---|---|
| MANAZEL Manazel PJSC | د.إ0.31 | 11.8% +د.إ85.8m | -6.8% | PE56.5x | |
| ESHRAQ Eshraq Investments PJSC | د.إ0.46 | 0.7% +د.إ8.1m | 2.2% | PE14.3x |