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Emaar Malls to pay Dh1.3 billion dividend

The third annual general meeting (AGM) of Emaar Malls on Monday approved the distribution of cash dividends to shareholders amounting to Dh1.3 billion ($353.9 million), representing 10 per cent of the share capital being 10 fils per share for 2017.
Emaar Malls recorded a net profit of Dh2.080 billion ($566 million) in 2017, 11 per cent higher than 2016. Revenue for full-year 2017 was Dh3.629 billion ($988 million), a growth of 12 per cent. Gross Leasable Area (GLA) occupancy levels across Emaar Malls assets averaged 94 per cent during 2017.
Mohamed Alabbar, chairman of Emaar Properties and board member of Emaar Malls, said: "We are thankful to our shareholders for their support and trust in us, as we continue to focus on creating long-term value for them through our next-generation malls. Today, the key to ensuring the sustained growth of malls is to reinvent themselves with a focus on the aspirations of a new generation of customers. In addition to leveraging digital technology to enhance the customer experience at The Dubai Mall, we aim to redefine the future of retail through our innovative new shopping, leisure and lifestyle destinations in Dubai Hills Estate and Dubai Creek Harbour." - business@khaleejtimes.com