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The Screen · Real Estate · Real Estate - Development
EMAAEmaar Properties
EMAAR.AE · DFM · AED · Market cap $103.4B
Emaar Properties PJSC, together with its subsidiaries, engages in the property investment, development, and development management business in the United Arab Emirates and internationally.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price11.40 AED
Fair value20.50
Ethical score70.0/100
RatingSTRONG OPPORTUNITY
Our investment reviews on this name
2026-10-15Read Markdown11.38+0.2% to today Markup gives way to Markdown
2026-07-27Read Markup11.70-2.6% to today Distribution gives way to Markup
2026-07-02Read Distribution11.70-2.6% to today ✓First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Emaar Properties holds its Markdown at $11.40. Consolidating, no directional conviction, held for 24 days.
As held on the ledger · 2026-10-14
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 24 days
Price at the screen
$11.40
Valuation
5.43 trailing · 5.51 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.39
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
5.69%
Below 33%
Interest-bearing debt is just 5.7% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
28.19%
Below 33%
Cash held in interest-bearing accounts and securities is 28.2% of assets, under the one-third limit.
Pass
Receivables
1.22%
Below 49%
Money owed to the company is 1.2% of assets, under the 49% limit.
Pass
Revenue purity
3.60%
Below 5%
Only 3.6% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Emaar Properties clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 6%, inside the ~33% line, and interest is about 4% of its income, under the ~5% line, so it passes.
Read as at 2026-10-24. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when EMAAR.AE's ethical verdict changes
Today EMAAR.AE passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
Free, no account needed. Every email has a link to stop.
What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads STRONG OPPORTUNITY: it trades at roughly a 80% discount to our $20.50 fair value, 22.80% revenue growth.
Fair value range in AED, drawn from the 2026-10-14 screen. The gold marker is the market price at the same screen. A 79.8% margin of safety to the base estimate.
Third-party analyst targets: 14 covering, consensus Strong Buy. The average target sits +54% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-14 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Why it stands out
A 23%-growth business trading at just 5.5x forward earnings, with minimal debt. That is a 80% discount to our $20.50 fair value: the market is pricing it cautiously while the fundamentals argue otherwise. 14 analysts rate it Strong Buy with a $17.50 average target, about 54% above the screened price.
The risks · The things to watch: its business and earnings are exposed to United Arab Emirates and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
EMAAR.AE trades on DFM (the company is based in United Arab Emirates). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-15Markdown · changed$11.38-2.1%Entry 7
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (16 analysts) rates it strong buy, with a mean price target of $16.
2026-10-02Markup$11.62-0.7%Entry 6
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (16 analysts) rates it strong buy, with a mean price target of $16.
2026-08-27Markup$11.70+0.0%Entry 5
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (14 analysts) rates it strong buy, with a mean price target of $17.
2026-07-27Markup · changed$11.70+0.0%Entry 4
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (13 analysts) rates it strong buy, with a mean price target of $17.
2026-07-18Distribution$11.70+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (13 analysts) rates it strong buy, with a mean price target of $17.
2026-07-03Distribution$11.70+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Distribution$11.70Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
What Holding Actually Paid · Price Plus Dividends
If $1,000 had been placed · historical, not a promise
Period
Price then
Price return
Divs per share
$1,000 became
Total return
1 month
$12.14
-8.9%
·
$911
-8.9%
2 months
$11.90
-7.1%
·
$929
-7.1%
3 months
$10.61
+4.2%
$1.00
$1,136
+13.6%
6 months
$13.05
-15.3%
$1.00
$924
-7.6%
1 year
$12.18
-9.2%
$1.00
$990
-1.0%
2 years
$6.44
+71.7%
$2.00
$2,028
+102.8%
3 years
$4.86
+127.7%
$2.50
$2,792
+179.2%
5 years
$3.04
+264.3%
$2.90
$4,598
+359.8%
Historical returns from market close data. Past performance does not guarantee future results.
The Ledger's Promise
This entry now belongs to the ledger. Whatever EMAAR.AE does next, these words stay.
Emaar Properties · EMAAR.AE · Markdown · $11.40
Recorded 2026-10-14 · before the outcome · scored mechanically