Emaar Properties Q3 2015 net profit up 31%
The Dubai-based developer reported a net profit of $229.5m (AED843m) in the third quarter of 2015
Emaar Properties has reported a 31% rise in net profit for the third quarter of 2015.
The Dubai-based developer announced a net profit of $229.5m (AED843m) in the three months to September 30, in comparison with a $175m (AED645m) for the same period in 2015.
Emaar's third-quarter profit fell below a forecast by EFG Hermes which estimated $272.2m (AED1.02bn).
However, third quarter revenues were $898.5 (AED3.3bn) - an increase of 56% from the same period of 2014.
For the first nine months of the year, net profit rose by 16% to $830.4m (AED3.05bn), from $713.3m (AED2.62bn) in the year earlier period.
The company, in which Dubai's government owns a minority stake, achieved the latest results despite signs of uncertainty in the property market.