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AED 9.4 billion sales of Emaar Properties during the first half

2019-08-04T22:08:55.176Z

Emaar Properties has achieved one of the highest levels of semi-annual real estate sales in Dubai with sales of AED 9.443 billion ($ 2.571 billion) in the first six months of 2019, a 52% increase compared to the first half From


Emaar Properties has achieved one of the highest levels of semi-annual real estate sales in Dubai with sales of AED 9.443 billion ($ 2.571 billion) in the first six months of 2019, a 52% increase compared to the first half In 2018, amounting to 6.229 billion dirhams (1.696 billion dollars).

Emaar Properties' strong performance in terms of units for sale in the UAE, as well as shopping and hospitality sectors, saw Emaar's revenues in the first half of 2019, ($ 3.15 billion) and net profit of 3.11 billion dirhams ($ 847 million).

Emaar has announced that it has AED 49.188 billion ($ 13.392 billion) worth of projects for international operations, as of June 30, 2019, and will be recognized as revenues over the next three to four years, reflecting the firm's strong financial fundamentals and the success of its business model. Focuses on achieving the best value for stakeholders.

Emaar Properties' strong performance this year is based on Dubai's growing reputation as a premier global destination for real estate investments and our successful expansion in the shopping and hospitality sectors, which complement Dubai's tourism sector, said Emaar Properties Chairman Mohammed Alabbar. , Has generated strong revenue.

"We are always keen to keep pace with our national development aspirations, and we are committed to delivering value to all stakeholders. We continue to develop our performance within our three core business units, building on the latest technological advances and innovations in the digital world." According to the financial results, Emaar Properties achieved a net profit of AED 1.382 billion ($ 376 million) and revenue of 6.237 billion dirhams ($ 1.698 billion) in the first half of 2019. Emaar Properties recorded a 6% To AED 2.227 billion ($ 606 million) in the first six months of 2019. Net profit rose 3% to AED 1.13 billion ($ 308 million) during the same period. Emaar Malls, which includes Dubai Mall, Dubai Marina Mall, Gold and Diamond Complex, Souk Al Bahar, and shopping malls within residential complexes, maintained a strong occupancy rate of 92 per cent during the first half of 2006. 2019, while the total number of visitors to 68 million visitors during the first six months of 2019, a growth of 2%, compared with the number of visitors during the same period last year. Emaar's hospitality, leisure and commercial leasing business contributed AED 1.318 billion ($ 359 million) of total revenue. Emaar also contributed 15 per cent of total revenues to AED 1.743 billion ($ 475 million), a 12 per cent increase over the first half of 2018, amounting to AED 1.55 billion ($ 422 million). $).

AED 49.188 billion worth of projects for Emaar.

Source: emara

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