{"id":54719,"date":"2017-05-14T20:53:23","date_gmt":"2017-05-14T13:53:23","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=54719"},"modified":"2017-05-14T19:09:33","modified_gmt":"2017-05-14T12:09:33","slug":"dubai-property-sales-lift-emaars-first-quarter-profit","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-property-sales-lift-emaars-first-quarter-profit\/","title":{"rendered":"Dubai property sales lift Emaar's first-quarter profit"},"content":{"rendered":"


\nEmaar Properties’ first-quarter profit were lifted by 15 per cent from a year earlier as sales spiked for new residential properties in Dubai.The Burj Khalifa developer said that its net profit was Dh1.38 billion in the first three months of the year, up from Dh1.2bn, as property sales began rebounding. New residential launches in the downtown and marina areas, as well as joint venture projects under Dubai Hills Estate, Dubai Creek harbour and Emaar South, have helped catapult sales. Emaar recorded Dh6bn in sales from the first quarter, a 44 per cent growth compared to last year’s Dh4.19bn.
\n“We have seen an increase in property sales in Dubai, and we are on track with our construction milestones,” said Mohamed Alabbar, the chairman of Emaar.The group completed the pile foundations for the observation tower in Dubai Creek Harbour as well as progress on various projects in Dubai Hills Estate, a city development surrounding a major golf course.Mr Alabbar said: “Along with our core business of creating premium real estate in Dubai and other international markets, our malls, hospitality and leisure businesses have also recorded growth.”
\nBusiness activities across the board resulted in a 15 per cent boost to revenue in the first quarter to Dh4.07bn. Malls and hospitality made up 39 per cent of that figure, though malls and hospitality operations had little change year-over-year.First-quarter income for Emaar Malls moved 1.8 per cent to Dh539 million from Dh529m, with expansions in the works for Dubai Mall’s Fashion Avenue as well as new attractions along the Boulevard, Fountain Views and Zabeel areas.
\nThe company’s income jumped 5 per cent to Dh756m in the hospitality sector, which includes commercial leasing and entertainment, partially thanks to the launch of two hotels including the Address Boulevard and Rove Healthcare City.Emaar shares remained flat in Dubai trading on Sunday at Dh7.46. The shares are up by 18.4 per cent for the year to date.lgraves@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Dubai property sales lift Emaar’s first-quarter profit<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Emaar Properties’ first-quarter profit were lifted by 15 per cent from a year earlier as...<\/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-54719","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-eez","jetpack-related-posts":[{"id":54735,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-residential-launches-lift-profit-amid-positive-economy\/","url_meta":{"origin":54719,"position":0},"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":44123,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/signs-of-momentum-for-dubai-property-sector\/","url_meta":{"origin":54719,"position":1},"title":"Signs of momentum for Dubai property sector","date":"February 15, 2017","format":false,"excerpt":"\r Two of Dubai's largest property developers reported on Tuesday a boost in fourth-quarter net profit, prompting further hopes of a Dubai market recovery.Burj Khalifa developer Emaar Properties said net profit for the three months to the end of December 2016 increased by 56 per cent, climbing to Dh1.61 billion\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11486,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-brings-mini-dubai-to-londons-harrods\/","url_meta":{"origin":54719,"position":2},"title":"Emaar brings 'mini-Dubai' to London's Harrods","date":"April 27, 2016","format":false,"excerpt":"\r Emaar Properties has brought a taste of Dubai to one the world's most famous department stores as it attempts to attract foreign investors amid the property slowdown in the emirate.The Dubai developer, builder of the Burj Khalifa, is launching and exhibiting its latest project at Harrods in London until\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7756,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-increases-rent-in-shopping-spaces-including-the-dubai-mall\/","url_meta":{"origin":54719,"position":3},"title":"Emaar increases rent in shopping spaces including The Dubai Mall","date":"March 13, 2016","format":false,"excerpt":"\r \r One of Dubai's biggest landlords of shopping space has increased rents for retailers already tackling a slowdown in economic activity in the emirate. Emaar Malls, 84 per cent owned by parent Emaar, has raised rents at its properties, which include \"trophy asset\" The Dubai Mall, by 14 per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7758,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-increases-retail-rent-in-shopping-spaces-including-the-dubai-mall\/","url_meta":{"origin":54719,"position":4},"title":"Emaar increases retail rent in shopping spaces including The Dubai Mall","date":"March 13, 2016","format":false,"excerpt":"\r \r One of Dubai's biggest landlords of shopping space has increased rents for retailers already tackling a slowdown in economic activity in the emirate. Emaar Malls, 84 per cent owned by parent Emaar, has raised rents at its properties, which include \"trophy asset\" The Dubai Mall, by 14 per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4023,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rise-in-profit-for-dubais-emaar-malls-less-than-expected\/","url_meta":{"origin":54719,"position":5},"title":"Rise in profit for Dubai's Emaar Malls less than expected","date":"February 8, 2016","format":false,"excerpt":"\r \r The tills may still be ringing and the droves of tourists still arriving, but Dubai's retail juggernaut showed signs of slowing slightly yesterday as fourth-quarter profit at the emirate's largest shopping centre owner missed analysts' expectations. Profit for the quarter ended December at Emaar Malls Group, which owns\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\/54719"}],"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=54719"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/54719\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=54719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=54719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=54719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}