Emaar Malls’ net profit edges up 2.5 per cent – The National

Emaar Malls’ net profit edges up 2.5 per cent – The National

The company is set to open Dubai Hills Mall in the fourth quarter of 2020. Emaar Malls, a unit of Dubai's biggest listed developer, Emaar Properties, saw its net profit edge up 2.5 per cent as revenue climbed 5 per cent, driven by strong performance of its shopping malls and online retail business.. "2019 was a great year for Emaar Malls with occupancy and visitor levels growing steadily.. Namshi, the regional e-commerce platform that was fully acquired by Emaar Malls in 2019, reported sales of Dh339 million in the fourth quarter, up 40 per cent compared to the same period during the previous year.. For the full-year, sales jumped 21 per cent to Dh1.028bn.. Occupancy levels within Emaar Malls' assets such as The Dubai Mall, Dubai Marina Mall, Gold & Diamond Park, Souk Al Bahar and its community retail centres were consistent at 92 per cent.. The company said that Emaar Malls received approximately 136 million visitors in 2019, with The Dubai Mall alone welcoming 84 million visitors.. Emaar is also set to open Dubai Hills Mall in Dubai Hills Estate in the fourth quarter of 2020.. Emaar Malls said that its fourth quarter revenue in 2019 grew 4 per