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24-04-14

UAE's Emaar profit grows 55 percent in Q1

(MENAFN) Net profit of Dubai"s Emaar Properties saw a 55 percent rise in the first quarter of 2014 on growing regional economy, according to Arab News. Emaar profit for the quarter was estimated at USD234.96 million during the quarter compared to USD151.3 million in the same quarter a year earlier. Its revenue reached USD615 million in the three-month period compared to USD574 million a year earlier. Emaar"s malls and shopping unit posted 38 percent of the total revenue, while hospitality and leisure unit was 16 percent of the total.