{"id":21488,"date":"2016-07-31T21:07:07","date_gmt":"2016-07-31T14:07:07","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=21488"},"modified":"2016-07-31T19:29:16","modified_gmt":"2016-07-31T12:29:16","slug":"dubais-emaar-properties-reports-8-rise-in-q2-profit-now-in-exciting-phase-of-growth","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-emaar-properties-reports-8-rise-in-q2-profit-now-in-exciting-phase-of-growth\/","title":{"rendered":"Dubai's Emaar Properties reports 8% rise in Q2 profit, now in 'exciting phase of growth'"},"content":{"rendered":"


\nEmaar Properties has increased its second-quarter net profit by 8 per cent year-on-year to Dh1.27 billion as revenue climbed by 7 per cent to Dh3.5bn. In the six-month period, net profit was up 12 per cent to Dh2.48bn (H1 2015: Dh2.2bn) as revenue climbed by 11 per cent to Dh7.26bn (Dh6.52bn).The company said that over the six-month period, recurring revenue from its retail, hospitality and leisure arm comprised 40 per cent of its total at Dh2.92bn. This is slightly ahead of the Dh2.9bn generated last year, although its share of last year’s revenue was 45 per cent.Revenue from its international operations was Dh1.03bn – 14 per cent of the total, but a 12 per cent decline on the Dh1.17bn generated in the same period a year earlier.The property development arm witnessed a 20 per cent increase in revenue to Dh3.62bn, while the total amount of properties sold during the period equated to Dh10.44bn \u2014 23 per cent higher than last year. Emaar now has a backlog of projects to be delivered over the next three to four years with a value of Dh45bn.Mohamed Alabbar, the chairman of Emaar Properties, said that the results highlighted the success of its strategy to consolidate its position as the biggest developer in Dubai, and to build its recurring revenue base.”We are in one of the most exciting phases of our growth strategy having launched a brand new icon for the city – The Tower at Dubai Creek Harbour – and the imminent roll-out of Dubai Opera in Downtown Dubai.”We are scaling up our malls business with the launch of a retail district in Dubai Creek Harbour and the expansion of Dubai Mall. We are also strengthening our hospitality portfolio with 35 new hotels and serviced residences in the UAE and international markets.”This beat an estimate from analyst SICO Bahrain, which had predicted a profit of Dh1.06bn.The company’s shares closed almost 1 per cent lower at Dh6.82 per share, but in the year to date have climbed by almost 20 per cent, giving it a market cap of just below Dh49.2bn.mfahy@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Dubai’s Emaar Properties reports 8% rise in Q2 profit, now in ‘exciting phase of growth’<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Emaar Properties has increased its second-quarter net profit by 8 per cent year-on-year to Dh1.27...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-21488","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5AA","jetpack-related-posts":[{"id":8634,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-considers-stock-listings-for-hotels-unit-along-with-turkish-and-indian-businesses\/","url_meta":{"origin":21488,"position":0},"title":"Emaar considers stock listings for hotels unit along with Turkish and Indian businesses","date":"March 21, 2016","format":false,"excerpt":"\r \r Emaar Properties is considering the flotation of overseas units and its hotels arm to provide it with more growth capital and to return cash to shareholders.The company has told investors that it is looking to \"monetise core assets\" through further initial public offerings of business divisions, such as\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54735,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-residential-launches-lift-profit-amid-positive-economy\/","url_meta":{"origin":21488,"position":1},"title":"Emaar residential launches lift profit amid 'positive economy'","date":"May 14, 2017","format":false,"excerpt":"\r A spike in the value of sales of new residential property in Dubai helped lift first-quarter profit for developer Emaar amid what its chairman calls a positive economic environment in the emirate. The developer said that its preliminary net profit for the first three months was 15 per cent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21094,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-emaar-malls-second-quarter-profit-up-11-2\/","url_meta":{"origin":21488,"position":2},"title":"Dubai's Emaar Malls second-quarter profit up 11.2%","date":"July 27, 2016","format":false,"excerpt":"\r Dubai's Emaar Malls, a unit of Emaar Properties which operates high-end retail facilities including Dubai Mall, reported an 11.2 per cent rise in second-quarter net profit on Wednesday.Emaar Malls made a net profit of Dh458 million in the three months to June 30 compared with a profit of Dh412m\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33268,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-malls-reports-higher-profit-on-rental-income\/","url_meta":{"origin":21488,"position":3},"title":"Emaar Malls reports higher profit on rental income","date":"November 6, 2016","format":false,"excerpt":"\r Emaar Malls reported a 16 per cent rise in third-quarter net profit to Dh435 million as rental income increased.The shopping malls and retail business majority owned by global property developer Emaar Properties, said that rental income for the three months to the end of September 2016 increased 8 per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11402,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-emaar-malls-q1-net-profit-grows-22-per-cent\/","url_meta":{"origin":21488,"position":4},"title":"Dubai's Emaar Malls Q1 net profit grows 22 per cent","date":"April 26, 2016","format":false,"excerpt":"\r Dubai's Emaar Malls, a unit of Emaar Properties, reported a 22 per cent rise in first-quarter net profit on Tuesday as its rental income grew.Emaar Malls made a net profit of Dh529 million in the three months to March 31, up from Dh433m in the same period a year\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4319,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-reports-full-year-gains-despite-the-address-downtown-dubai-blaze-writedown\/","url_meta":{"origin":21488,"position":5},"title":"Emaar reports full-year gains despite The Address Downtown Dubai blaze writedown","date":"February 11, 2016","format":false,"excerpt":"\r \r Emaar Properties posted fourth-quarter results that missed expectations after a Dh301 million writedown arising from the New Year's Eve, blaze at its flagship hotel in Dubai. Net profit in the three months to December 31 was Dh1.03 billion, a 1 per cent drop from a year earlier, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/21488"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=21488"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/21488\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=21488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=21488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=21488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}