What is included
Every member is a stable public security identity that matches the rule shown above. The cards connect the same identity to its company profile, free Company Brief and primary identity route.
Public research collection
UAE real-estate business models
A source-linked map of 16 listed property companies and REITs, organized by operating model rather than market performance.
- Membership version
- v1
- Effective from
- Versioned membership
- 16 public profiles
How to use this collection
How to read it
Start with the evidence badges, open the company profile, check its verification date and source, then use the sector model and related Academy guide before comparing another issuer.
Freshness and depth
The collection version date describes membership. Each company keeps its own identity date, reporting context and research depth; a stale or identity-only member is shown rather than silently removed.
What to do next
Use the filtered directory to compare the same scope, or open the coverage methodology to understand versioning, inclusion and correction rules.
Issuer evidence status
IR teams can inspect the same public evidence gaps and provide official links or documents for independent review.
- 16
- profiles have a source-and-period foundation
- 0
- profiles need issuer identity or reporting evidence
Sector forensic · public excerpt
How UAE listed property businesses actually differ
This evidence-led reading layer converts the 24 August 2026 sector study into an original public guide. It maps operating models, asset boundaries and comparison traps across 16 listed companies and REITs. It deliberately withholds the report's numerical tables until every value passes Dubaist's separate financial-fact publication gate.
- Lapshin Vadim
- Dubaist
- Published and reviewed
Research perimeter
Six DFM property equities, two DFM REITs, six ADX property issuers and two Nasdaq Dubai REITs. Borderline diversified groups and property-finance companies are excluded from the core peer set.
Six operating models — not one developer sector
Build-to-sell development
Homes and commercial units are created and sold. Launches, contracted sales, construction progress, collections, revenue recognition and handovers are different stages and must stay separate.
Integrated development and retained assets
The group both develops property and keeps selected malls, offices, homes, hotels, logistics or other operating assets. Development profit, rent, hospitality and fair-value movements require separate reading.
Development plus property services
Development is combined with property, community and facilities management or related operating services. Subsidiary service revenue is not the same as parent-company development revenue.
Recurring commercial landlord
Buildings and land are retained and leased, with related district and business services. Occupancy, lease duration, tenant retention, rent, asset additions and operating cash conversion matter more than presale headlines.
Rental REIT
The vehicle owns income-producing property and distributes value through rental operations under its legal and reporting framework. Property count, occupancy, rent, operating costs, valuation, leverage and distributions require exact period definitions.
Diversified property holding
Property ownership, leasing or development sits beside investments or operating subsidiaries. Asset ownership, subsidiary activity, securities investments and group cash flows cannot be treated as one undifferentiated property business.
Issuer operating map
Emaar Properties
Integrated parent ecosystem spanning development, retained retail, hospitality, entertainment and related services.
Emaar Development
UAE residential and commercial build-to-sell platform; economically narrower than its listed parent.
Aldar Properties
Development platform plus a substantial retained investment and operating-asset platform across several property uses.
Modon Holding
Post-transformation group combining real estate with hospitality, events, catering, tourism and asset or investment management.
RAK Properties
Destination-led development around Mina with residential delivery, hospitality and retained leasing exposure.
Deyaar Development
Developer combined with property, community, facilities and asset-management services.
Union Properties
Dubai property group combining development and investment property with facilities and other operating services.
TECOM Group
Owner and operator of specialised business districts, commercial and industrial property and long-term land leases.
Dubai Residential REIT
Large residential rental vehicle centred on completed homes and community operations rather than unit sales.
Al Mal Capital REIT
Diversified listed REIT that must be assessed under its own portfolio, valuation and distribution framework.
Emirates REIT
Nasdaq Dubai income-property REIT with a commercial and education-oriented portfolio context.
ENBD REIT
Income-property REIT with a non-calendar financial year, so its reporting periods cannot be aligned mechanically with June year-to-date issuers.
Eshraq Investments
Real-estate and investment holding whose public asset granularity is more limited than the largest integrated peers.
Manazel
Development and property group complemented by operating infrastructure and service subsidiaries.
Aram Group
Property ownership, leasing and development alongside securities and other investment exposure.
Al Mazaya Holding
Listed diversified property developer and holding included in the market perimeter while detailed current evidence remains limited.
Rules that prevent false comparisons
- Sales, recognised revenue and cash collections are different events.
- Backlog and development pipeline use issuer-specific definitions and are not automatically comparable.
- Project value or GDV is not carrying value, market value, NAV or realised cash.
- A development right or announced land bank is not proof of legal ownership or current asset value.
- Fair-value gains, acquisition gains and disposal gains must stay separate from recurring operating earnings and cash flow.
- Calendar and non-calendar fiscal periods cannot be aligned by label alone.
Evidence and publication boundary
Issuer reports, exchange profiles and official investor-relations archives are used as the evidence routes. A public link proves only the statement attached to it. It does not grant automated collection or redistribution rights. Financial values, project valuations, backlog amounts and performance conclusions remain unavailable here until document, period, unit, scope and locator are individually verified.
Primary-source routes
- DFM listed property securitiesOpen official source ↗
- ADX issuer directoryOpen official source ↗
- Nasdaq Dubai REIT directoryOpen official source ↗
- Emaar investor relationsOpen official source ↗
- Aldar businessesOpen official source ↗
- Modon investor relationsOpen official source ↗
- RAK Properties reportsOpen official source ↗
- Deyaar investor relationsOpen official source ↗
- TECOM investor relationsOpen official source ↗
- Dubai Residential REIT resultsOpen official source ↗
Public directory evidence
These counts describe only evidence already visible in the directory. A completed review does not mean every financial figure is ready for publication, and the counts are not an investment conclusion.
Official source linked
Reporting context recorded
Review ready · figures shown after verification
Identity revalidation due
Verified company logo
Versioned membership
Emaar Properties
Integrated real-estate and lifestyle group. Sells UAE homes mainly through controlled separately listed Emaar Development and other group projects; develops internationally, especially Egypt and India; owns/operates malls and commercial leasing assets; and owns/manages hotels, leisure and entertainment. Economics depend on presales, buyer advances and escrow, construction progress, handovers, backlog margin and collections, land bank, mall rents/occupancy, hotel occupancy/rates, international execution and capital allocation.
- Presales
- Backlog
- Handovers
- Official source linkedAvailable
- Reporting context recordedAvailable
- Review ready · figures shown after verificationAvailable
- Identity revalidation dueNeeds evidence or review
- Verified company logoAvailable
Aldar Properties
Develops and sells residential/mixed-use projects while owning and managing recurring-income real estate and international development platforms.
- Presales
- Backlog
- Handovers
- Official source linkedAvailable
- Reporting context recordedAvailable
- Review ready · figures shown after verificationAvailable
- Identity revalidation dueNeeds evidence or review
- Verified company logoAvailable
Emaar Development
Majority-owned listed subsidiary of Emaar Properties focused on prime UAE build-to-sell residential and commercial communities. It launches projects, presells units, receives buyer advances into escrow, funds construction, recognises IFRS 15 revenue as obligations are performed, hands over units and provides development management services. Economics depend on sales price and mix, launches, collections and cancellations, construction cost and progress, handovers, backlog margin/timing, land/JV/JDA terms, escrow accessibility and related-party arrangements with the listed parent and common-control entities.
- Presales
- Backlog
- Handovers
- Official source linkedAvailable
- Reporting context recordedAvailable
- Review ready · figures shown after verificationAvailable
- Identity revalidation dueNeeds evidence or review
- Verified company logoAvailable
Modon Holding
Abu Dhabi Government-controlled integrated city builder and operator. Develops and sells masterplanned communities, plots and infrastructure; owns and leases income assets; owns/operates hotels; runs exhibition venues, events, temporary infrastructure, catering, tourism and media services; and invests through international JVs. Economics depend on sales/backlog conversion, construction delivery and collections, recurring occupancy/NOI, hotel rates, venue/event volumes, catering margins, working capital, capital commitments and capital allocation.
- Presales
- Backlog
- Handovers
- Official source linkedAvailable
- Reporting context recordedAvailable
- Review ready · figures shown after verificationAvailable
- Identity revalidation dueNeeds evidence or review
- Verified company logoAvailable
TECOM Group
TECOM Group is a listed equity on DFM under ticker TECOM. Public classification: Real estate. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.
- Property value
- Occupancy
- Rental income
- Official source linkedAvailable
- Reporting context recordedAvailable
- Review ready · figures shown after verificationAvailable
- Identity revalidation dueNeeds evidence or review
- Verified company logoAvailable
Deyaar Development
Dubai-focused developer that launches, constructs and sells residential/mixed-use projects and recognises most sales revenue over construction progress; also earns smaller recurring revenue from property, facilities and community management, leasing and hospitality. Economics depend on presales, backlog, customer collections, escrow release, construction progress, handovers, cost control, land monetisation, recurring-income KPIs and accessible liquidity.
- Presales
- Backlog
- Handovers
- Official source linkedAvailable
- Reporting context recordedAvailable
- Review ready · figures shown after verificationNeeds evidence or review
- Identity revalidation dueNeeds evidence or review
- Verified company logoAvailable
Dubai Residential REIT
Sharia-compliant closed-ended DFM-listed REIT managed by DHAM REIT Management LLC. It owns and operates apartments, villas and residential communities across premium, community, affordable and corporate-housing segments in Dubai. Revenue comes primarily from operating leases; growth depends on occupancy, rental reversion, refurbishments, acquisitions and new units. Key risks are the Dubai rental cycle, RERA regulation, valuation yields, EIBOR-linked debt and related-party manager/acquisition governance.
- NAV
- FFO
- AFFO
- Official source linkedAvailable
- Reporting context recordedAvailable
- Review ready · figures shown after verificationNeeds evidence or review
- Identity revalidation dueNeeds evidence or review
- Verified company logoAvailable
Union Properties
Union Properties is a listed equity on DFM under ticker UPP. Public classification: Real estate. Use this card to verify the issuer through its official profile, disclosures and sector metrics; it does not attribute unverified products, assets or projects to the company.
- Presales
- Backlog
- Handovers
- Official source linkedAvailable
- Reporting context recordedAvailable
- Review ready · figures shown after verificationNeeds evidence or review
- Identity revalidation dueNeeds evidence or review
- Verified company logoAvailable
Emirates REIT
Closed-ended public Islamic property fund managed by Equitativa (Dubai) Limited. It owns Dubai offices, schools and other commercial property, collects rent and distributes income; investors bear occupancy, tenant-credit, financing, property-valuation and external-manager-fee risk rather than the operating risk of its tenants.
- NAV
- FFO
- AFFO
- Official source linkedAvailable
- Reporting context recordedAvailable
- Review ready · figures shown after verificationNeeds evidence or review
- Identity revalidation dueNeeds evidence or review
- Verified company logoAvailable
ENBD REIT
Sharia-compliant closed-ended DIFC REIT managed by Emirates NBD Asset Management. It owns ten Dubai office, residential, student-accommodation, education and retail properties and earns rent; it bears occupancy, tenant-credit, refinancing, profit-rate and property-valuation risk rather than operating tenant businesses.
- NAV
- FFO
- AFFO
- Official source linkedAvailable
- Reporting context recordedAvailable
- Review ready · figures shown after verificationNeeds evidence or review
- Identity revalidation dueNeeds evidence or review
- Verified company logoAvailable
Eshraq Investments
Hybrid investment holding and real-estate asset-monetisation company. It owns a concentrated proprietary investment portfolio dominated by the Goldilocks open-ended fund managed by SHUAA GMC; earns rental income from investment property; disposes of or selectively develops real-estate assets; and has smaller hospitality/holding activities. Economic outcomes depend on independently realisable look-through investment NAV, legal title and pledges, asset-sale proceeds, rent and collections, realised versus unrealised gains, parent liquidity and capital allocation—not conventional developer presales alone.
- Presales
- Backlog
- Handovers
- Official source linkedAvailable
- Reporting context recordedAvailable
- Review ready · figures shown after verificationNeeds evidence or review
- Identity revalidation dueNeeds evidence or review
- Verified company logoAvailable
ARAM Group Company P.J.S.C.
Owns and leases Sharjah investment properties and holds listed/unlisted financial instruments; reported profit is materially affected by fair-value movements.
- Property value
- Occupancy
- Rental income
- Official source linkedAvailable
- Reporting context recordedAvailable
- Review ready · figures shown after verificationNeeds evidence or review
- Identity revalidation dueNeeds evidence or review
- Verified company logoAvailable
Manazel PJSC
Sharia-compliant real-estate group that develops and sells property, owns income-producing commercial assets, manages buildings and communities, and supplies district cooling and facility services. FY2025 revenue was entirely rental and service income with no property sales. Economics depend on occupancy/rents, cap rates and property values, project collections, cooling/service utilisation, receivable recovery, financing terms and asset-level cash accessibility.
- Presales
- Backlog
- Handovers
- Official source linkedAvailable
- Reporting context recordedAvailable
- Review ready · figures shown after verificationNeeds evidence or review
- Identity revalidation dueNeeds evidence or review
- Verified company logoAvailable
RAK Properties P.J.S.C.
Government-backed Ras Al Khaimah master developer. Plans and builds waterfront destination communities, sells residential units and recognises qualifying development revenue as construction progresses, then hands homes over. Retains selected hotels, retail/leasing and asset/facility-management activities for recurring income. Economics depend on launches, net sales, backlog, collections, construction progress, handovers, land-bank monetisation, hotel occupancy/ADR, working capital and funding cost.
- Presales
- Backlog
- Handovers
- Official source linkedAvailable
- Reporting context recordedAvailable
- Review ready · figures shown after verificationAvailable
- Identity revalidation dueNeeds evidence or review
- Verified company logoAvailable
Al Mal Capital REIT
Closed-ended DFM-listed REIT managed by Al Mal Capital PSC. It owns and leases five UAE school campuses, NMC Royal Hospital and Falcon House offices. Revenue comes from contractual operating leases; the REIT bears tenant-credit, refinancing, interest-rate, property-valuation and related-party governance risks rather than operating schools or the hospital.
- NAV
- FFO
- AFFO
- Official source linkedAvailable
- Reporting context recordedAvailable
- Review ready · figures shown after verificationNeeds evidence or review
- Identity revalidation dueNeeds evidence or review
- Verified company logoAvailable
Al Mazaya Holding Company
Kuwaiti holding group earning mainly rental income from commercial and other investment properties across Kuwait and GCC, plus selective property sales and management fees. Investment properties are fair-valued; economics depend on occupancy, rent collection, valuation assumptions, debt/lease funding, asset disposals and legal claims.
- Property value
- Occupancy
- Rental income
- Official source linkedAvailable
- Reporting context recordedAvailable
- Review ready · figures shown after verificationNeeds evidence or review
- Identity revalidation dueNeeds evidence or review
- Verified company logoAvailable