Emaar Development logs AED 2bn profit in 9M

Dubai – Mubasher: Emaar Development on Thursday announced a significant increase in its net profit at AED 2.070 billion ($564 million) and revenue of AED 9.625 billion ($2.62 billion) over the period from January to September in 2019.

Sales backlog stood at AED 36.098 billion ($9.828 billion) in the same period in 2019, underlining remarkable revenue recognition to be achieved in the coming three to four years, a press release said.

During the July-September period in 2019, the net profit advanced to AED 688 million ($187 million), with revenues recording AED 3.388 billion ($922 million) meanwhile.    

As for the first six months of 2019, the real estate company realised a net profit of AED 1.382 billion ($376 million).

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