Shopping malls and retail business giant has revealed profits of $87M for the first three months of the year, a quarter-on-quarter increase of 169 per cent.
The shopping malls and retail business, which is majority-owned by Emaar Properties, on Sunday reported profits of $87M for the opening three months of the year, as opposed to $32M recorded for the period October through to December 2020.
Revenue for Q1 2021 totalled $245M as Emaar Malls continues to chart a course of recovery from the economic crisis caused by the global coronavirus pandemic.
Mohamed Alabbar, Founder of Emaar Properties and Board Member of Emaar Malls, said: “We continue to focus our efforts on project delivery for our newest expansions and developments ensuring we consistently enhance our financial profitability. As we persist in driving growth for Emaar Malls, both locally and internationally, we are committed to delivering transformational retail and entertainment experiences that exceeds expectations of constantly evolving customer demands,” said Alabbar.
