dubais emaar properties posts 8 rise in second quarter profits
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Dubai's Emaar Properties posts 8% rise in second quarter profits

Egypt Today, egypt today

Egypt Today, egypt today Dubai's Emaar Properties posts 8% rise in second quarter profits

Revenues of Emaar Properties rose by seven percent to 3.728bn dirhams
Dubai - AFP

Dubai developer Emaar Properties said Sunday its profits in the second quarter of 2016 grew by eight percent to $346 million as sales increased.

Revenues of the group, which built the world's tallest tower Burj Khalifa, rose by seven percent to 3.728 billion dirhams ($1.015 billion), compared to the same period last year, it said in a statement.

In the first half of the year, profit was 12 percent up to 2.475 billion dirhams, with revenues increasing 11 percent to 7.257 billion dirhams.

Emaar's property sales in Dubai in the first six months surged 45 percent to $2.411 billion, "highlighting strong investor demand for Emaar's iconic developments," the group said.

Dubai's real estate sector has slowed down with residential prices dropping around 12 percent last year as demand from overseas has fallen.

Emaar's recurring revenues from retail and hospitality amounted to 40 percent of total revenues in the first half of the year.

"We are... strengthening our hospitality portfolio with 35 new hotels and serviced residences in the UAE and international markets," said Emaar Properties Chairman Mohamed Alabbar.

Emaar said in March it will build a viewing tower that will be "a notch" taller than Burj Khalifa and cost around $1 billion.

Burj Khalifa, which opened in January 2010, is 828 metres (2,700 feet) high and cost $1.5 billion to build.

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dubais emaar properties posts 8 rise in second quarter profits dubais emaar properties posts 8 rise in second quarter profits



GMT 13:24 2011 Wednesday ,27 July

Qatar’s female endurance team impress

GMT 11:55 2012 Friday ,29 June

Sally Field\'s $2.3 million home

GMT 11:37 2017 Thursday ,12 January

Murray, Kerber top seeds

GMT 00:58 2012 Monday ,18 June

Canada\'s news media near sole-source

GMT 11:46 2017 Friday ,10 November

Apple's $120 mn patent award from Samsung upheld

GMT 11:50 2017 Thursday ,20 April

Aqualuxe launches & appoints

GMT 11:30 2011 Thursday ,15 September

Brown upgraded in market as California gap shrinks

GMT 15:22 2017 Saturday ,11 February

5.6-magnitude quake jolts Taiwan

GMT 17:48 2018 Friday ,16 November

King of Bahrain Visits KSA's GACA Pavilion

GMT 11:42 2018 Thursday ,08 November

8 Yemenis killed in random Houthi shelling

GMT 13:32 2018 Tuesday ,30 October

UAE jobs, skills in demand in 2019

GMT 23:47 2015 Monday ,27 April

Elvis's planes staying put at Graceland
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday