Emaar profit rises 5.6% in the third quarter to Dh4.6 billion
Emaar's net profit attributable to owners rose 5.6% in the third quarter to Dh4.6 billion, nine-month profit at Dh13.28 billion on revenue of Dh37.5 billion.
Emaar Properties' net profit attributable to owners rose 5.6% in the third quarter to Dh4.6 billion, compared with the same period last year.
Nine-month profit reached Dh13.28 billion, up 16%, on revenue of Dh37.5 billion, according to the disclosed results.
Property sales during the nine months reached Dh34.7 billion across 14 launches, while the sales backlog rose 6% to Dh158.8 billion.
In contrast, a report by property consultants Cavendish Maxwell showed the value of residential property sales in Dubai fell 47% to Dh72.6 billion in the third quarter.
What do these terms mean?
Net profit attributable to owners: The profit left after expenses and taxes, and the share belonging to the parent company's shareholders.
Revenue: The total amount collected from selling properties and services before deducting costs.
Sales backlog: The value of signed sales contracts whose revenue has not yet been recognised, recorded as delivery progresses.
Property sales: The value of units and land sold by the company during a set period.
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