Emaar Posts 15% Profit Rise in Q1

Monday, 15th May 2017

Dubai-based property developer Emaar Properties generates profits of AED 1.384 bn in the first quarter of 2017, an increase of 15% compared to AED 1.205 bn in the same period of last year, Invest-Gate reports.

In addition, revenues stand at AED 4.07 bn in Q1 of this year, up 15% from AED 3.53 bn in the prior-year period. In Dubai, the company saw a rise of 44% in it property sales to AED 6.049 bn in the three-month period ending on March 31, 2017 from AED 4.194 bn in Q1-16.

The group has a backlog of AED 46.245 bn to be recognized as revenue in the coming few years.

Share your thoughts

Please Enter This Code: