Developer Emaar Properties reported $166M in Q1 2020 as compared to $179M in Q1 2021 which results an increase of 8% profit of its property sale.
Emaar Development tendered over more than 74,500 residential units in Dubai and international markets. A recorded property sales in Dubai of $1.607bn from January to March 2021, that is 106% increase compared to last year’s sales of $780m in Q1 2020.
International operations constant improvement results and recorded property sales of $303m in Q1 2021, that is 18% higher compared to $279m in Q1 2020.
Meanwhile, other business of Emaar such as hospitality, leisure, entertainment and commercial leasing recorded revenues of $124m for Q1 2021. Altogether achieved revenues of $370m which comprises of 23 percent of the company’s revenue from there recurring revenue generating business such as malls, hospitality, leisure, entertainment and commercial leasing.
(Source: Gulf News)