Emaar Malls Posts Profits of AED 482 mn in Q2 

Emaar Malls Posts Profits of AED 482 mn in Q2 

Emaar Malls posts net profits of AED 482 mn in the second quarter of 2017, a rise of 5.2% from AED 458 mn in the prior-year period, Invest-Gate reports.

In the first half of 2017, net profits grew 3% to AED 1.021 bn from AED 987 mn.

Revenues reached AED 1.624 bn in H1-17, compared to AED 1.618 bn in H1-16.

Emaar Malls’ assets, the Dubai Mall, Dubai Marina Mall, Souk Al Bahar, Gold & Diamond Park, and community shopping centers welcomed over 65 mn visitors during the first six months of the year, up 7% from the same period last year at 61 mn.

The expansion of Fashion Avenue in the Dubai Mall is in its final stages, providing another 1 mn square foot of built-up area. The company is also developing a new retail addition under its “The Souk” concept in the Springs Village and also building the Boulevard expansion.

Emaar is developing the -six-square-kilometer Retail District in Dubai Creek Harbour, and is also planning the Dubai Mall’s Fountain Views and Zabeel expansions, in addition to building a mall, community retail areas and a boutique mall in the- 11-mn-square-meter Dubai Hills Estate master-planned community.

Menna A. Farouk 368 Posts

Menna A. Farouk is a Cairo-based reporter. She has contributed to several international news organizations, including Deutsche Welle, Al-Monitor and Global Voices.


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