Emirati (ADX) Real Estate Sector Analysis

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
Thu, 08 Dec 2022	د.إ131.5b	د.إ55.1b	د.إ13.7b	10x	9.6x	2.4x
Sat, 05 Nov 2022	د.إ129.3b	د.إ56.5b	د.إ12.4b	13.2x	10.4x	2.3x
Mon, 03 Oct 2022	د.إ127.1b	د.إ55.8b	د.إ12.3b	13.1x	10.3x	2.3x
Wed, 31 Aug 2022	د.إ138.8b	د.إ55.8b	د.إ12.3b	14.4x	11.3x	2.5x
Fri, 29 Jul 2022	د.إ126.8b	د.إ55.1b	د.إ10.5b	11.8x	12.1x	2.3x
Sun, 26 Jun 2022	د.إ109.4b	د.إ55.1b	د.إ10.5b	10.9x	10.4x	2x
Tue, 24 May 2022	د.إ130.5b	د.إ58.0b	د.إ9.8b	16.3x	13.4x	2.2x
Thu, 21 Apr 2022	د.إ139.2b	د.إ56.9b	د.إ7.8b	15.5x	17.8x	2.4x
Sat, 19 Mar 2022	د.إ159.2b	د.إ61.7b	د.إ9.8b	15.9x	16.3x	2.6x
Mon, 14 Feb 2022	د.إ150.7b	د.إ59.3b	د.إ8.6b	14.2x	17.6x	2.5x
Wed, 12 Jan 2022	د.إ150.9b	د.إ59.6b	د.إ8.2b	13.7x	18.3x	2.5x
Fri, 10 Dec 2021	د.إ150.7b	د.إ59.6b	د.إ8.2b	13.5x	18.3x	2.5x
Sun, 07 Nov 2021	د.إ139.3b	د.إ55.1b	د.إ7.0b	13.8x	19.9x	2.5x
Tue, 05 Oct 2021	د.إ121.7b	د.إ55.0b	د.إ6.9b	11.4x	17.6x	2.2x
Thu, 02 Sep 2021	د.إ128.1b	د.إ55.0b	د.إ6.8b	12.2x	18.9x	2.3x
Sat, 31 Jul 2021	د.إ119.9b	د.إ55.0b	د.إ6.8b	11.5x	17.7x	2.2x
Tue, 04 May 2021	د.إ108.9b	د.إ48.9b	د.إ6.0b	10x	18.3x	2.2x
Fri, 05 Feb 2021	د.إ109.5b	د.إ47.7b	د.إ5.4b	10.2x	20.3x	2.3x
Mon, 09 Nov 2020	د.إ87.7b	د.إ48.4b	د.إ7.6b	9.6x	11.5x	1.8x
Sun, 02 Aug 2020	د.إ75.3b	د.إ50.8b	د.إ9.2b	7.8x	8.2x	1.5x
Wed, 06 May 2020	د.إ75.8b	د.إ55.1b	د.إ10.8b	7.3x	7x	1.4x
Sat, 08 Feb 2020	د.إ101.8b	د.إ56.2b	د.إ13.1b	8.8x	7.8x	1.8x

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 9.6x which is lower than its 3-year average PE of 13.7x.

The 3-year average PS ratio of 2.1x is lower than the industry's current PS ratio of 2.4x.

Past Earnings Growth

Both revenue and earnings for companies in the Real Estate industry have remained mostly flat over the last three years.
This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Trends

Which industries have driven the changes within the Emirati Real Estate sector?

Industry PE

Investors are most optimistic about the Real Estate industry even though it's trading below its 3-year average PE ratio of 13.3x.

Analysts are expecting annual earnings growth of 4.4%, which is lower than the prior year's growth of 21.8% per year.

Investors are most pessimistic about the REITS industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.

Forecasted Growth

Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 4.4% over the next 5 years.
However this is lower than its past earnings growth rate of 22% per year.

In contrast, the REITS industry is expected to see its earnings decline by 55% 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.إ6.25	2.8% +د.إ1.4b	28.6%	PB0.8x
DEYAAR Deyaar Development PJSC	د.إ0.53	3.1% +د.إ70.0m	-21.4%	PB0.5x
UPP Union Properties	د.إ0.27	5.1% +د.إ55.8m	-22.0%	PB0.6x
ENBDREIT ENBD REIT (CEIC)	US$0.39	2.4% +US$2.3m	-13.4%	PB0.6x
MANAZEL Manazel PJSC	د.إ0.40	0.3% +د.إ2.6m	-32.1%	PB0.3x

Nov 20

Sector Valuation and Performance