Emaar Malls Q3 net profit $122m

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Occupancy levels in key malls was 91 percent during Q3.
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  • The revenue rose to 1.14 billion dirhams from 839 million dirhams in the same period last year.
  • Occupancy at key assets of Emaar was 91 percent during the quarter.

Emaar Malls said on Monday it made a third-quarter net profit of 448 million dirhams ($122 million), which is 86 percent more than the 241 million dirhams last year.

For the nine months ended September 30, the retailer’s net profit was 1.07 billion dirhams and revenue for the period was 3.19 billion dirhams.

The revenue of the firm, which is the retail arm of Dubai’s biggest developer Emaar Properties, was 1.14 billion dirhams for the quarter, up from 839 million dirhams in the same period last year.

In a filing to the Dubai Financial Market, Emaar Malls said its occupancy levels and key assets such as The Dubai Mall, Dubai Marina Mall, Gold & Diamond Park, Souk Al Bahar and the Community Retail Centres was 91 percent during the quarter.

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