Emaar Properties first half net profit rises 12%

Dubai: Emaar Properties said on Sunday its net profit for the first half of 2016 rose 12 per cent to be at Dh2.475 billion as revenues grew.

Revenues for the six months to June also rose 11 per cent to be at Dh7.2 billion, the company said in a statement to the Dubai Financial Market.

Property sales in Dubai jumped 45 per cent at Dh8.854 billion in the first half, in than same period in 2015, highlighting strong investor demand.

In the second-quarter to June of 2016, Emaar sustained its growth trend with net profit at Dh1.270 billion, an increase of 8 per cent on quarter, while revenues also rose 7 per cent to be at Dh3.728 billion.