DUBAI: Emaar Properties has received an improved outlook from S&P Global Ratings, helped by a recovering Dubai property market. The developer of the world’s tallest tower was moved to a stable outlook from negative as property prices in some areas of the emirate improved for the first time since 2015. The developer has reported a surge in pre-sales in the UAE to 10.5 billion dirhams ($2.85 billion) for the first five months of 2021, compared to 6.3 billion dirhams reported for all of 2020. S&P Global Ratings expect a rebound in the company’s earnings this year with earnings before interest, taxes, depreciation and amortization (EBITDA) likely to exceed 8 billion dirhams.