Search by map
30.10.2014
Emaar Properties has reported a net profit of $678mn for the first nine months of 2014 – 37% higher than the corresponding period last year. Emaar Properties has reported a net profit of $678mn for the first nine months of 2014 – 37% higher than the corresponding period last year, Construction Week Online reported.
The Dubai-based developer, in which the government has a 31.2% stake, also revealed a 21% rise in third quarter net profit of $206mn.
Mohamed Alabbar, chairman of Emaar Properties, said: “This has been a record nine-month performance for Emaar as we delivered on our promise of strengthening shareholder value. We have set an industry milestone by announcing a total dividend of AED17.12bn ($4.66bn) this year through our strategic growth initiatives including the distributions approved by the shareholders at the beginning of this year and the dividends proposed for distribution before the end of this year.
“The successful listing of our malls business is testament to our vision to develop stand-alone profit centres of our diverse businesses in Dubai and international markets, creating long-term value for our stakeholders.”
The Dubai-based developer, in which the government has a 31.2% stake, also revealed a 21% rise in third quarter net profit of $206mn.
Mohamed Alabbar, chairman of Emaar Properties, said: “This has been a record nine-month performance for Emaar as we delivered on our promise of strengthening shareholder value. We have set an industry milestone by announcing a total dividend of AED17.12bn ($4.66bn) this year through our strategic growth initiatives including the distributions approved by the shareholders at the beginning of this year and the dividends proposed for distribution before the end of this year.
“The successful listing of our malls business is testament to our vision to develop stand-alone profit centres of our diverse businesses in Dubai and international markets, creating long-term value for our stakeholders.”
