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DUBAI / WAM
Emaar Malls recorded an increase in net profit by 80 per cent to AED 622 million ($ 169 million) during the first six months (January to June) of 2021, compared to a net profit of AED 345 million ($ 4 million), during the same period in 2020. Revenue for H1 2021 amounted to AED 2.048 billion, an increase of 23 per cent compared to the H1 2020 revenue of AED 1.660 billion.
Revenue for Q2 2021 increased by 27 per cent to AED 1.147 billion, compared to the Q1 2021 revenue of AED 901 million ($ 245 million). Emaar Mall’s e-commerce fashion and lifestyle platform, Namshi, a wholly owned subsidiary, recorded sales of AED 427 million for Q2 2021, 65 per cent higher than Q1 2021, and recorded online sales of AED 685 million in the first half
of 2021.