Dubai's Emaar reports its nine-month profit almost halving. - GulfToday

Dubai's Emaar reports its nine-month profit almost halving


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Gulf Today Report

Emaar Properties on Wednesday reported its profit for the first nine months of the year was almost cut into half.

In a statement, Emaar said its profit declined 48% from January- September. Nine-month revenue slumped 26% to 13.4 billion dirhams.

Dubai’s largest listed developer’s chairman said he is positive about the rest of the year. 


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Similar to every economic sector, the pandemic has affected the already struggling Dubai’s property market.

The Chairman Mohamed Alabbar said, “looking to the future, I am cautiously optimistic about the remainder of the year and I am confident that things will be in better shape across most sectors by summer 2021.”


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