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Emaar Properties' profits jump by %53 in the third quarter

2009-10-22

Dubai – Alaswaq.net: The net operating income of EMAAR Properties that is listed in Dubai Financial Market increased in the third quarter of this year by 53% compared with the same period in the last year, and also rose by 48% compared with the second quarter of this year. EMAAR stated in a release within Dubai Financial Market that the total net profit reached in the third quarter of this year reached AED 655 million (168 million dollars). EMAAR revenues reached in the third quarter of this year AED1.948 billion while the total revenue in the first nine months of this year reached AED5.429 billion ($1.4 billion). According to the company; the growth in the profits during the third quarter of this year referred to the increase in the profit margin of Town Homes “Alma” within the project of “Al Marabi’e Al Arabia” in Dubai, which had been delivered before the deadline.