Emaar Properties first-quarter profit up 17% to Dh1.21 billion

Dubai’s Emaar Properties, builder of the world’s tallest tower, reported a 17 per cent rise in first-quarter net profit on Sunday.

The developer, in which Dubai’s government owns a minority stake, made a net profit of Dh1.21 billion in the three months to March 31, it said in a statement. That compares with a profit of Dh1.03bn in the year-earlier period.

SICO Bahrain forecast Emaar’s first-quarter profit would be Dh1.22bn.

Emaar’s quarterly revenue was Dh3.53bn, also up 17 percent from a year earlier.

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