Dubai's Emaar Malls’ 9M profit rises 9% to $446 mln

Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties, on Sunday said its net profit for the first nine months of 2018 rose 9 percent on a year-to-year (YoY) basis to AED 1.639 billion ($446 million) from AED 1.507 billion ($410 million).

The company’s Q3 net profit jumped 10 percent to AED 537 million ($146 million), while Q3 revenue increased 29 percent to AED 1.129 billion ($307 million) YoY, it added. 

The company's assets - The Dubai Mall, Dubai Marina Mall, Souk Al Bahar, Gold & Diamond Park and the various community centres - together received 99 million visitors during the first nine months of 2018. The Dubai Mall alone recorded a visitor footfall of 60 million during the first nine months of 2018.