Emaar Properties, the Dubai-based property developer, has recorded revenues of Dhs4,429m (US$1,478m) in the first nine months of 2009. Net operating profits for the same period stood at Dhs1,401m ($381m).
Third quarter 2009 revenue reached Dhs1,948m ($530m), compared to second quarter revenue of D1,940m ($528m). Net operating profit for the same period reached Dhs655m ($178m), an increase of 48 per cent as compared to the second quarter operating profit of Dhs442m ($120m). Third quarter operating profit has also increased by 53 per cent as compared to profit in the same period in 2008 of Dhs428m ($117m).
Emaar’s premier mall development, The Dubai Mall, has now crossed the 1,000 store mark and features flagship stores and a range of global brands. It has already achieved a footfall of 30 million visitors to date, driven also by the recent opening of Sega Republic and Reel Cinemas.
