Dubai, UAE; October 22, 2009: Emaar PropertiesEmaar PropertiesEmaar Properties
PJSC, the Dubai-based global property developer, has recorded revenues of AED 5,429 million (US$ 1,478 million) in the first nine months of 2009, led by its strategy of strengthening customer-oriented initiatives to support property purchases and a commitment to project delivery. Net operating profits for the same period stood at AED 1,401 million (US$ 381 million).
Third quarter (July to September) 2009 revenue reached AED 1,948 million (US$ 530 million), comparable to second quarter revenue of AED 1,940 million (US$ 528 million). Net operating profit for the same period reached AED 655 million (US$ 178 million), an increase of 48 percent as compared to the second quarter operating profit of AED 442 million (US$ 120 million). Third quarter net operating profit has also increased by 53 percent as compared to profit in same period in 2008 of AED 428 million (US$ 117 million).
The increase in profitability is due to the higher margin relating to Alma townhomes in Arabian Ranches handed over during the third quarter. The townhomes were handed over ahead of its scheduled delivery demonstrating EmaarEmaarEmaar Properties
UAE | Real Estate