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Dubai’s Emaar properties posts 55% rise in Q1 profit

Reuters – Dubai’s Emaar Properties reported a 55% rise in first-quarter net profit on Tuesday, as the region’s economic recovery brought consumers back to its malls and shopping units, and house buyers returned to the market. The builder of the world’s tallest tower, the Burj Khalifa, reported a profit of AED 863m ($234.96m) in the …

Daily News Egypt

Emaar plans Dubai, London listing for retail unit: Chairman

Reuters – Dubai’s Emaar Properties plans to list its shopping malls and retail unit in both Dubai and London, the company’s chairman Mohamed Alabbar was quoted as saying on Tuesday. “This will be a dual listing. We are a Dubai company so we have to be in Dubai, but we will list in London. I …

Daily News Egypt

Dubai’s Emaar plans $2.5bn listing of shopping mall unit

Reuters – Dubai’s Emaar Properties said it would sell up to 25 percent of its shopping mall and retailing unit in a public offer expected to raise AED 8 to 9bn ($2.18-$2.45bn), making it one of the region’s largest equity offers since 2008. The proceeds “will be primarily distributed as dividend” to Emaar shareholders, Dubai’s …

Daily News Egypt

Dubai’s Emaar Q4 net profit up 48%, beats estimates

Reuters – Emaar Properties, Dubai’s largest real estate developer, reported a 48% jump in fourth-quarter net profit on Monday, beating analysts’ estimates, as it benefited from a renewed real estate and tourism boom in the emirate. The builder of the world’s tallest tower posted a quarterly profit of AED 756m ($206m), compared with AED 512m …

Daily News Egypt

Emaar draws on Dubai Mall to raise $1 bln

DUBAI: Dubai’s Emaar Properties, the emirate’s largest real estate developer, has put up its crown jewel asset — Dubai Mall — to secure $1 billion of lending to help refinance upcoming debt amid difficult funding conditions. The two-tranche facility, which consists of both sharia-compliant and conventional funding, is split between a five-year tranche and an …

DNE

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