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FINANCIAL NEWS
Emaar Properties reports USD183.8m profit in Q2
30 Jul 2013
(MENAFN) Dubai-based developer Emaar Properties reported a 10 percent growth in quarterly earnings on higher property sales in the emirate, Reuters reported.
The company said it made USD183.8 million net profit during the second quarter, up from USD167.13 million a year earlier.
The developer of the highest tower in the world, Burj Khalifa, also reported a 48 percent increase in quarterly revenue to USD843.8 million from USD571.6 million a year ago.
Revenue from its hospitality, leisure and malls businesses was USD633.12 million, accounting for 45 percent of total revenue, the developer said.
Total sales value in Dubai during the first six months of 2013 quadrupled to USD1.7 billion compared to the same period last year.
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