Emaar Properties posts $451 mn profit

July 23rd, 2010 - 11:29 pm ICT by IANS  

Dubai, July 23 (IANS/WAM) Dubai-based real estate firm Emaar Properties has posted a net operating profit of 1,656 million dirhams ($451 million) in the first half of 2010.
The gains mark a 122 percent growth compared to the corresponding period last year. The firm released the figures Thursday.

The revenue for the first six months was 5.538 billion dirhams, recording a 59 percent growth compared to 3.481 billion dirhams in the corresponding period last year.

The net operating profit for the second quarter, ending June 30, 2010, was 896 million dirhams, 18 percent higher than the net operating profit of 760 million dirhams in the first-quarter of 2010.

The highlight of the second quarter was the opening of the world’s tallest building Armani Hotel in Burj Khalifa, the company said.



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