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Dubai, Emaar Properties Dubai, Emaar Properties

Emaar Properties Declared Successful Q1

In the first quarter of this year (Q1), Emaar Properties revealed a net profit AED1.38 billion (USD376.8 million), a year-on-year growth of 15 percent.

The company’s total Q1 revenue stood at AED4.07 billion (USD1.1 billion), up 15 percent compared to the same period in 2016. Some 39 percent of total revenue was generated by the developer’s malls, hospitality, entertainment and leisure portfolio, which reached AED1.59 billion (USD433.4 million).

Furthermore, the group’s international operations, which accounted for 20 percent of Q1 revenues, reached AED806 million (USD219.4 million), a 62 percent jump over 2016. 

Mohamed Alabbar, chairman, Emaar Properties, attributed the positive results to new customer-oriented digital strategy and robust property sales in Dubai, among other factors.