Emaar Properties’ Q1 profit surges threefold on property sales growth – The National
- Date: 14-May-2022
- Source: The National
- Sector:Financial Markets
- Country:UAE
Emaar Properties’ Q1 profit surges threefold on property sales growth – The National
Dubai’s biggest listed developer Emaar Properties reported more than a threefold increase in first-quarter net profit on higher sales revenue, as UAE’s property market continues to rebound from the coronavirus pandemic.
Net profit attributable to owners of the company for the three-month period to the end of March climbed to Dh2.24 billion ($610 million), the company said in a statement to the Dubai Financial Market, where its shares are traded.
Revenue during the period jumped 12 per cent to Dh6.6bn. Group property sales rose 17 per cent to Dh8.3bn amid the continuing recovery in Dubai's property market.
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