OTHER SUBSIDIARIES

Emaar Development, majority-owned by Emaar Properties, recorded property sales of Dh23.2 billion in the first nine months of the year, 11 per cent higher than same period in 2021. Revenue for the period stood at Dh9.3 billion and EBITDA at Dh3.3 billion.

Emaar’s international real estate operations recorded property sales of Dh3.7 billion in the nine-month period and contributed revenue of Dh3.2 billion.

Emaar Malls Management LLC, the wholly owned shopping malls and retail arm of Emaar, recorded 24 per cent growth in revenue in the nine-month period at Dh4 billion. EBITDA was recorded at Dh2.4 billion, 47 per cent higher than the year-ago period.

The hospitality, leisure, entertainment and commercial leasing businesses of Emaar recorded revenue of Dh2.4 billion for the nine-month period, a growth of 78 per cent compared to same period last year.