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| Emaar Properties records growth in half-year net operating profits Dubai-based real estate giant Emaar Properties, builder of the world's tallest tower recorded half-year 2010 net operating profits of AED 1,656 million (US$ 451 million). This corresponds to a 122 per cent growth over the half-year 2009 results. The revenue for the first six months of the year was AED 5.538 billion (US$ 1.508 billion), recording a growth of 59 per cent over half-year 2009 revenue of AED 3.481 billion (US$ 948 million). Net operating profit for the second quarter ended 30 June, 2010 was AED 896 million (US$ 244 million), 18 per cent higher than the first-quarter 2010 net operating profit of AED 760 million (US$ 207 million). The net profit subsequent to considering the non business charges for the quarter is AED 802 million (US$ 218 million), a 6 per cent increase over the first quarter of the year. Revenue for the second quarter recorded a growth of 37 per cent over second quarter 2009 revenue of AED 1.940 billion (US$ 528 million). The highlight of second quarter 2010 was the opening of the world's first Armani Hotel in Burj Khalifa, the world's tallest building. In addition, the handover of units in Burj Khalifa started during the quarter with approximately 24 per cent handed over until June end. write your comments about the article :: © 2010 Construction News :: home page |