Friday , June 18 2021

Emaar Properties's net profit for 2018 is AED 2.23 billion



Emaar Properties, which owns a majority stake in Emaar Properties, posted a net profit of 2.23 billion Dirham in the financial year 2018, a 7% increase compared to a net profit of 2017 billion from AED 2,186 billion. Revenues for the financial year 2018 amounted to 4.446 billion AED, up 23% from AED 2017 million from AED 3,629 billion.

Emaar Malls is one of the largest shopping center operators in the world with 6.7 million square meters of living space, with the company retaining a high 93% employment rate in all its assets: Dubai Mall, Dubai Marina Mall, Souk Al Bahar " , Gold and Diamond Complex, as well as shopping centers located in residential complexes.Markets received 136 million visitors in 2018, an increase of 5% compared to the number of visitors in 2017, reaching 130 million visitors.

"Now retail and retailing is highly competitive," said Mohammed Alabar, chairman of Emaar Properties. "The successful launch of the Emaar malls in 2018 reflects Dubai's strong economic performance, and we will continue to make every effort to contribute to the process of national economic development by investing in our assets to deliver an experience that to enjoy the residents and visitors of Dubai from all over the world. A leading position thanks to its ongoing investments Innovative concepts and new options that bring the aspirations of the new generation of customers together. »

As part of Emaar Malls' marketing strategy, the company continued to increase the operational efficiency of Nimchi, a marketing and marketing specialist in fashion and cosmetics, which Emaar Malls acquires a controlling stake in August 2017. They announced that in 2018 they made a turnover of AED 849 million, a 16% increase from sales registered in 2017

Emaar Malls also revealed that Emaar Properties has achieved great achievements in the construction of Dubai Hills Mall, the new family business area to be opened in the first quarter of 2020 in the heart of the Dubai Hills Estate. "Rural Plains" will increase the rental space of about 75,000 square meters, which will be completed later this year.

Emaar Malls made significant strides in expanding Fountain Views and Zabeel to connect Dubai Mall respectively to Sheikh Mohammed bin Rashid and Financial Center Road, with two expansion plans being opened in the first half of 2019. New Dubai Mall .

The reconstruction of the "Plain Village" is underway to increase the rental area.

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