Dubai’s Emaar posts USD280.4m net profit in Q1

04 May 2015

(MENAFN) Emaar Properties, the Dubai-based builder, recorded a net profit of USD280.4 million in the first quarter of the year, marking an increase by 7 percent year-on-year, Arabian Business reported.

The profit is attributed to the selling of properties worth USD672 million in total, the majority of which is in the firm’s home market, according to a corporate statement.

‘The sustained growth in net profit and revenue is supported by the increase in recurring revenues from the group’s shopping malls, retail and hospitality businesses,’ Emaar said.

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