The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Dubai / Emirates Business
Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties PJSC, recorded a net profit of AED 539 million ($ 47 million) in Q1 (January to March) of 2017, higher by 19 percent over Q4 (September to December) 2016 net profit of AED 452 million ($123 million) and similar to net profit of AED 529 million ($144 million) during Q1 2016. The assets of Emaar Malls – The Dubai Mall, Dubai Marina Mall, Souk Al Bahar, Gold & Diamond Park and community shopping centres – together welcomed over 34 million visitors in the first three months of the year, an increase of 10% over same period in 2016. The gross leasable area (GLA) occupancy levels across Emaar Malls’ assets averaged 96 per cent during Q1 2017.