The company has announced it has reached revenue of $5.2bn for the first nine months of the year.
This announcement highlights the growth in the Dubai real estate market it represented a 47 per cent increase in operating profit to $2.3bn when compared with the same period last year. Net profit for the period surged 124 per cent to $1.6bn as a result of sustained revenue, improved margins and a greater control on costs.
An Emaar spokesperson said: “Q3 was another strong period for Emaar as we continue to build on momentum generated in the first half of the year. The strategic measures put in place following the pandemic are seeing fruition as all parts of the company benefit from increased consumer confidence and activity, particularly in the real estate market.”
“As we move into Q4 2022, we are confident of a further uplift in our malls, hospitality, and retail assets as we head into the winter months and see a boost to the tourism and retail sectors,” he added.
