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Emaar Properties was founded in Dubai on June 23, 1997, by Mohamed Alabbar as a public joint-stock company. Alabbar, whose father captained a traditional dhow, studied finance and business at Seattle University before returning to the UAE. He later became the founding director of Dubai’s Department of Economic Development. He worked with Sheikh Mohammed bin Rashid Al Maktoum during Dubai’s shift from a trade-and-oil economy toward a diversified urban model.

Emaar was state-owned at launch. On March 25, 2000, it listed its shares on the Dubai Financial Market, raising capital for large-scale development while retaining control with the original shareholders. Early projects such as Emirates Living and Dubai Marina moved the company beyond single-site construction into master-planned districts with housing, retail, infrastructure, and waterfront areas.

In 2002, Emaar entered Egypt. In 2003, it announced Downtown Dubai, a 2-square-kilometer district between Sheikh Zayed Road and Financial Centre Road. On January 6, 2004, work began on Burj Dubai, designed by Skidmore, Owings & Merrill and built by Samsung C&T, BESIX, and Arabtec. Dubai Mall opened on November 28, 2008, with more than 1,300 stores. On January 4, 2010, the tower opened as the Burj Khalifa, named after Sheik Khalifa bin Zayed, at 829.8 meters, including its antenna.

During the 2010s, Emaar expanded in Dubai and abroad, including Saudi Arabia, India, Pakistan, Turkey, and Morocco. In 2013, it joined Meraas Holding on Dubai Hills Estate, while Opera District followed in 2014. DAMAC Properties competed in the premium housing segment, and Nakheel shaped Dubai with the Palm Jumeirah. By 2024, Emaar reported revenue of 35.5 billion dirhams, had delivered more than 117,000 residential units, and held over 1.7 billion square feet of land.