FINANCIAL NEWS

Dubai-based Emaar posts 28pct grow in profits

15 Feb 2017

(MENAFN) Dubai-based developer Emaar proclaimed that its net profits increased sharply last year due to increased income in real estate, retail and hospitality.

Additionally, the firm recorded annual net profits of USD1.425bn for last year, up 28 percent from the previous year.

Accordingly, Emaar’s growth reflects the dynamism of the UAE, which has changed as a global hub for business and leisure.

Moreover, the value of property surged until the global financial crisis hit the debt-laden emirate in 2009, sending prices into free-fall.

MENAFN1502201700450000ID1095249270

MENAFN1502201700450000ID1095249270

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