The UAE's two biggest property developers yesterday posted rosy profits for the first quarter, spelling good news for an industry still affected by the financial downturn.
The Abu Dhabi firm Aldar Properties said profits more than doubled in the first three months of the year compared with a year earlier, while Dubai's Emaar Properties - which built the Burj Khalifa, the world's tallest tower - reported a 44 per cent increase.
Commentators said the profits rebound spelled positive news for the UAE property market as a whole.
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