Emaar profits rise 28%

The company attributed its performance to robust growth and the successful year it had with its shopping malls.

Dubai-based developer Emaar Properties reported increases in its net profits last year and the fourth quarter, AFP reported.

Emaar posted a net profit of USD 234 million in the fourth quarter, up 14% on the USD 206 million posted in the corresponding quarter of 2013, a company statement said.

Net profit in 2014 rose 28.3% to USD 897 million from USD 699 million the previous year, it said.

"2014 was a robust year for Emaar as we recorded positive growth across each of our three core businesses -- property, shopping malls and hospitality -- as well as in our international markets," chairman Mohamed al-Abbar said.

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