UAE companies report strong revenue growth in first half
Gulf Today|August 14, 2020
UAE companies report strong revenue growth in first half
Emaar Properties has revealed H1 revenues of Dhs9b and over Dhs2b in net profit, while Aldar records 21% revenue growth to Dhs2.01b in Q2, 2020 driven by strong business performance

Emaar Properties has revealed first half (H1) revenues of Dhs9 billion and over Dhs2 billion in net profit, according to a statement by the real estate Dubai-based giant on Thursday.

Mohamed Alabbar, Founder of Emaar, said: “Our performance in the first half of 2020 has demonstrated our fundamental ability to retain strength and act with agility and speed in the face of the challenges presented by Covid-19. Emaar’s performance is a testament to the products we introduce and the people behind these innovations.

“Each year we set the bar higher, raising the expectations across all our businesses to ensure every Emaar touchpoint is met with the same standard of excellence,” he added.

In the meantime, Emaar Development, said revenue stood at Dhs4.818 billion in H1, with half-yearly net profit of Dhs1.036 billion.

Until June this year, Emaar’s delivery track record includes more than 64,700 residential units in Dubai and other international markets, with over 43,500 units delivered in the UAE. Over 29,000 residences are currently being developed in the UAE, alongside 11,000 units across international markets.

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August 14, 2020