Dubai's Emaar Properties EMAR.DU, builder of the world's tallest tower, offers value for long-term investors, but opaque earnings make it difficult to gauge its diversification into malls and hospitality.
Emaar's second-quarter profit came in below forecasts at 802 million dirhams ($218.4 million), but this shortfall was due to a slower-than-expected handover of units from the 828-metre high Burj Khalifa, rather than a loss of value.
These revenues are now slated to be transferred to the second-half of 2010."
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