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Emaar Properties records $1.55b profit in 2017

Developer’s chairman said last week that firm had made $1.8b in profit but company clarified that figure was before depreciation

Gulf News

Dubai: Dubai-based Emaar Properties said on Sunday it posted a net profit of $1.55 billion (Dh5.69 billion) in 2017, about 8 per cent higher than a year earlier.

The developer of the more than 160-storey Burj Khalifa, the world’s tallest tower, had made $1.43 billion in net profit in 2016.

The latest statement came after Emaar chairman Mohammad Al Abbar said on Wednesday the firm had made $1.8 billion in profit and close to $5 billion in sales in 2017.

The company clarified on Saturday that the figure was before depreciation.

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