UPDATE 1-Emaar net profit beats estimates as Dubai booms | Reuters:
"* Q4 net profit rises 48 percent to 756 mln dirhams
* Quarterly revenue up 3 percent to 2.76 bln dirhams
* 2013 sales nearly triple
By Praveen Menon
DUBAI, Feb 17 (Reuters) - Emaar Properties, Dubai's largest listed property developer, posted a 48 percent increase in its quarterly profit from a strong upturn that boosted by growth in its malls, hotels and property business.
Dubai's safe haven status during the region's Arab Spring uprisings has fuelled trade and tourism over the last year.
A bellwether for Dubai's real estate market, Emaar has led a recovery in that sector, and most of the projects it launched in the last few months were sold out within hours, reminiscent of the period before the 2008 global financial crisis."
'via Blog this'
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