Emaar Malls reports net profit of $160m for first 9 months of 2020

Emaar Malls reports net profit of $160m for first 9 months of 2020

Despite the challenges posed by COVID-19, the UAE-headquartered developer of premium shopping malls and retail assets Emaar Malls, which is majority-owned by Emaar Properties, reported revenue of $679m (AED2.493bn) for the first nine months of 2020 – for the period between January 2020 and September 2020 – with a net profit of $160m (AED586m) for the period ending 30 September, 2020.In line with its strategy to further develop its Community Retail Centres, Emaar Malls redeveloped the Meadows Village Mall to increase its GLA by approximately 8,825.78m2, which opened on 29 October 2020. Emaar will also open its Dubai South Village Mall in Q4 2020.Emaar Malls is also continuing its partnership with Time Out Group PLC, which will see the opening of the