Emaar Reports Profits of AED 1.45 bn in Q2

Tuesday, 15th August 2017
by Hager Abdel Al

A man enters a sales office of Dubai’s Emaar Properties that provides information and allows customers to reserve properties as part of the architecural project “Downtown Erbil” on October 27, 2013 in Arbil, the capital of the autonomous Kurdish region of northern Iraq. The 10-year project that aims to create the framework for a new city center that will support the growth of the city and the region will be realized by Emaar. AFP PHOTO SAFIN HAMED

Dubai-based property developer Emaar Properties reports a rise in its net profits during the second quarter of 2017, Invest-Gate reports.

Net profits reached AED 1.45 bn in Q2 of 2017, up 14% from AED 1.27 bn in Q2 of 2016. Revenues also grew 2% year-on-year to AED 3.79 bn in Q2 of 2017, according to the developer’s press release.

In the first half of 2017, net profits rose 15% to AED 2.84 bn from AED 2.47 bn in the prior-year period. Revenues reached AED 7.86 bn in H1 of 2017, a rise of 8% from AED 7.26 bn in H1 of 2016.

Emaar is committed to pay cash dividends of AED 1.074 bn for H1 of 2017, equivalent to 15% of the share capital.