New launches sit well for Emaar

06.05.2015
Emaar Properties recorded a 7% year-on-year gain in net profits by totalling AED1.02 billion in the first three months.

Emaar Properties recorded a 7% year-on-year gain in net profits by totalling AED1.02 billion in the first three months, helped by gains at both its Dubai and overseas exposures, the company said in a statement on Sunday.

On a quarter-on-quarter basis, there was actually a 2% drop during the first quarter.

Revenues were up 26% during the period, at Dh3.013 billion compared with last year’s AED2.39 billion. Apart from incremental launches at its wholly owned developments in Dubai, Emaar is looking to build up a sizeable presence at The Lagoons, with Dubai Creek Harbour (a joint venture with Dubai Holding), and Dubai Hills Estate, in alliance with Meraas Holding.

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