Dubai's Emaar Properties Q1 net profit rises 17%
[DUBAI]Dubai's Emaar Properties, builder of the world's tallest tower, reported a 17 per cent rise in first-quarter net profit on Sunday.
The developer, in which Dubai's government owns a minority stake, made a net profit of US$329.44m in the three months to March 31, it said in a statement. That compares with a profit of US$280m in the year-earlier period.
SICO Bahrain forecast Emaar's first-quarter profit would be US$330m. Emaar's quarterly revenue was US$960m, also up 17 per cent from a year earlier.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Homebuyers shun new real estate in Vancouver, hurting builders
US pending home sales jump in March to hit highest in the year
Blackstone strikes US$1.6 billion student housing deal with KKR
European real estate deals slump to lowest level in 13 years
Singapore Q1 industrial rents rise further as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co