Emaar Properties Q1 profit rises on retail revenue jump | ZAWYA MENA Edition:
"Dubai's Emaar Properties reported an 8.5 percent increase in net profit on Tuesday on the back of strong contributions from its shopping malls business despite a weaker property market.
Dubai's residential property market is showing few signs of rebounding from a three-year downturn caused by modest demand and increasing supply from new developments.
The developer, in which the government of Dubai owns a minority stake, made a net profit of 1.5 billion dirhams ($408 million) in the three months to March 31, it said in a bourse statement."
'via Blog this'
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