Emaar Properties (EMAR.DU), Dubai's biggest listed real estate company, on Thursday reported a better than expected 43% jump in first-quarter net profit on higher group property sales.
Net profit in the three months to March 31 was 3.2 billion dirhams ($871.53 million). That was more than double analyst expectations of 1.65 billion dirhams, Refinitiv data shows.
Group property sales rose 11% to 9.2 billion dirhams, "supported by an increase in tenant sales and a resurgence in tourism activity", the company said.
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