Emaar Development posts AED 1.4bn net profit in H1

Dubai – Mubasher: Emaar Development, a subsidiary of Emaar Properties, has achieved a net profit of AED 1.382 billion ($376 million) for the first half of 2019.

Moreover, the real estate firm has generated revenue of AED 6.237 billion ($1.698 billion) for the six-month period ended 30 June 2019, Emaar Properties said in a press release on Sunday.

In H1-19, Emaar Development has launched 16 new projects in Dubai at a total value of AED 8.850 billion ($2.409 billion), the leading property developer revealed.

During the first quarter of 2019, Emaar Development posted a 51% hike in sales, recording AED 5.902 billion, compared to AED 3.90 billion in Q1-18.

The property development unit of Emaar Properties reported a net profit of AED 751 million in Q1-19, as well as revenue of AED 3.34 billion.

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