|
contents | business | |||||||||
| Emaar Properties announces first quarter results Dubai developer Emaar Properties PJSC recorded a net profit of AED 421 million (US$ 115 million) in the first quarter of 2011 and a revenue of AED 1.983 billion (US$ 540 million). First quarter results were supported by the continued delivery of residential units in Burj Khalifa in Dubai and the handover of commercial offices in The Eighth Gate, Syria, an integrated project billed to become the financial nerve centre of the country. The company also commenced delivery of one of its premium commercial projects - Boulevard Plaza within Downtown Dubai during this quarter. The company handed over approximately 270 units during the quarter as compared to more than 1,300 and 1,000 units during the first and fourth quarters of 2010 respectively. However, due to higher margins recorded on the deliveries and the hospitality and malls businesses, the gross margins increased significantly as compared to first and fourth quarters of 2010. write your comments about the article :: © 2011 Construction News :: home page |