Dubai's Emaar Properties , builder of the world's tallest tower, reported a 44 percent rise in first-quarter net operating profit on Saturday on increased property sales in Dubai and strong revenue from shopping malls business.
The United Arab Emirates' largest developer by market value made a net operating profit of 606 million UAE dirhams ($165 million), compared to 421 million dirhams during the same period last year, it said in an emailed statement.
Analysts polled by Reuters on average forecast Emaar would make a quarterly profit of 496.75 million dirhams.
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