#Dubai's Emaar Q2 profit falls 7.4% as Dubai property market cools - Reuters

Dubai's Emaar Q2 profit falls 7.4% as Dubai property market cools - Reuters:

Dubai’s largest listed developer Emaar Properties’ second-quarter profit fell 7.4% as the Middle East financial hub’s property market continues to cool.

The emirate’s oversupplied residential real estate market, down by at least a quarter since the middle of 2014, is showing no signs of a recovery.

Emaar made a net profit of 1.37 billion dirhams ($373 million) in the April-June period, according to Reuters calculations based on a company bourse statement on Sunday, compared to 1.48 billion dirhams in the 2018 second quarter.