Emaar Properties founder and chairman Mohamed Alabbar said mall traffic fell 10%, a reported estimate that comes as the company reports higher mall-related revenue but gives no comparable visitor measure.
The National and Khaleej Times both reported the estimate from remarks Alabbar made at Bloomberg Invest Dubai on Nov. 12. The National linked the decline to the Iran war, while Khaleej Times identified the locations as Emaar Malls, including Dubai Mall and Dubai Hills Mall. The National did not name the malls, and neither outlet specified the period used to calculate the change. Alabbar also said mall traffic had increased 10% annually over the previous five years.
The National also reported that mall retail sales had dropped about 10% after comparable annual gains in recent years.
Emaar’s results for the nine months ended Sept. 30, 2026, show revenue from malls, retail and commercial leasing reached AED 5.2 billion, a 10% rise from the same period in 2025. Portfolio occupancy stood at about 98% as of Sept. 30. The release did not give a mall footfall figure, so it does not confirm the reported traffic decline.
The outlets also reported that Alabbar put occupancy in Emaar’s hospitality business at about 65%, down from 80%, without identifying the periods. Emaar’s results put average UAE hotel occupancy at 63% for the first nine months of 2026, compared with 80% in the same period in 2025. The company said fewer international visitors weighed on hospitality, leisure and entertainment, while demand from domestic and local customers provided some support.
At group level, Emaar reported revenue of AED 37.5 billion, up 13%, and profit before tax of AED 19.8 billion, up 18%, for the same nine-month period. Those figures cover the wider company and do not measure mall traffic.
Emaar said market conditions would guide the timing of new launches and how it directs investment.
