Emaar’s 2013 net profit climbs 21%

This strong performance was underlined by recurring revenues from the company’s shopping malls, retail, hospitality, and leisure business units.
Emaar Properties, the Dubai-based global developer, announced on Monday that its net profit jumped 21 per cent to Dh2.568 billion in 2013 compared to 2013 reached Dh10.328 billion, a 25 per cent increase on 2012 revenues of Dh 8.240 billion.
Emaar, which has total assets of over $17 billion and a land bank of more than 220 million sqm in key international markets, said its property business generated a total revenue of Dh 5.528 billion as revenues from its global operations rose 11 per cent to Dh 1.167 billion.
Emaar has energised the property, retail, tourism and hospitality sectors, in addition to creating over 50,000 jobs since its launch.quarter’s Dh2.347 billion.
Emaar would continue its focus on developing integrated neighbourhoods that meet Dubai’s future needs including the world-class infrastructure for hosting World Expo 2020
During 2013 Emaar marked the launch of several new major projects in Dubai including The Address Residence Fountain Views I, II and III; The Address Residence Sky View and Burj Vista in Downtown Dubai; The Hills and Vida Residence in Emirates Living; and Palma and Rosa villas in Arabian Ranches. Emaar also unveiled The Opera District, featuring the iconic Dubai Opera, a 2,000-seat multi-venue performing arts centre, in Downtown Dubai.
Among key international project launches, Emaar in Kurdistan; Emaar Middle East launched a second residential tower, Abraj Al Hilal 2 in Jeddah Gate, in Saudi Arabia; Emaar Misr launched several new projects in Cairo; and Emaar Turkey unveiled fully-furnished serviced homes, The Address Residences Emaar Square in Istanbul.
Source: Khaleej Times