EMAAR SEES PROF­ITS RISE

7 Days in Dubai - - BUSINESS -

Emaar Prop­er­ties (EP) has an­nounced net prof­its of $674 mil­lion and rev­enue of $1.97 bil­lion for the first half of 2016. This week EP said 40 per cent of its rev­enue be­tween Jan­uary and June was gen­er­ated by its shop­ping malls, hos­pi­tal­ity and leisure busi­nesses. The prop­erty de­vel­oper owns a ma­jor­ity stake in Emaar Malls Group, which man­ages the Mid­dle East’s largest shop­ping cen­tre, Dubai Mall. Prof­its for the first half of the year are up 12 per cent on the same pe­riod last year, and rev­enue is 11 per cent higher. The com­pany is cur­rently de­vel­op­ing the Dubai Opera House and The Tower, which will have ob­ser­va­tion decks higher than the Burj Khal­ifa.

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