Dubai: Emaar Development, which is majority-owned by Emaar Properties, said its general meeting scheduled on October 17 will discuss the proposal of Dh1.04 billion dividend distribution.

The dividend represents 26 per cent of the share capital being 26 fils per share to the shareholders.

Emaar Development recorded a net profit of Dh1.82 billion during the first six months of 2018, an increase of 68 per cent over the same period in 2017. Revenue came in at Dh6.99 billion, 119 per cent more than the first half of 2017.