iPhone | iPad
Android
Huawei
Latifa Saeed's recent works have been featured as part of the ‘Beyond Emerging Artists’ initiative by Abu Dhabi Art under the Department of Culture and Tourism
KT APPDOWNLOAD
Emaar Malls posts 16% growth in net profit
Shoppers throng The Dubai Mall. The Dubai Mall's Fashion Avenue will be expanded by another one million sq ft built-up area.
The total revenue for the first nine months of the year was Dh2.39 billion, which is 10 per cent higher than the revenue of Dh2.17 billion achieved during the same period last year.
Net profit in the third quarter (July to September) of 2016 was Dh435 million, 16 per cent higher than the Q3 2015 net profit of Dh376 million. Revenue also grew in Q3 2016 to Dh774 million, an increase of eight per cent over Q3 2015 revenue of Dh720 million.
Gross leasable area (GLA) occupancy levels across all assets averaged 96 per cent during the first nine months of 2016, similar to the levels last year.
Mohamed Alabbar, chairman of Emaar Malls and Emaar Properties, said: "Having set a track record in delivering retail and leisure experiences, Emaar Malls is charting a new growth strategy. This is underpinned by the expansion of The Dubai Mall and the development of mega retail precincts in Dubai Creek Harbour and Dubai Hills Estate.
"The robust economic environment of Dubai catalyses the retail sector of the city. We will continue to develop iconic retail and leisure destinations in Dubai and key international markets to create long-term value for our stakeholders."
The other mall assets of Emaar Malls - Dubai Marina Mall, Souk Al Bahar and Gold & Diamond Park - also recorded growth.
- business@khaleejtimes.com
More news from
A new strain of the virus, known as clade Ib, has the world's attention again after the WHO declared a new health emergency
Huda AlHadhrami, Deputy Head of Empowerment and Inclusion at VFS Global, wants to help people be the best version of themselves
The plan, from September through February next year, is expected to improve fair access to vaccines, and will require US$135 million in funding
Maryam Al Mansouri's journey into the culinary world began with strong support from her environment, which became the foundation of her career
Peter Davos’ scuba diving journey at DiveCampus
Known for their adventurous spirits and generous hearts, they always chose to trek behind their groups to assist those who may be struggling
Many parents are financially unprepared for these expenses as the survey revealed that 29 per cent have yet to begin saving up for their kids' university education