Emaar records AED1.65 billion net profit

Dubai / WAM

“Having welcomed over 80 million annual visitors for two consecutive years, The Dubai Mall will also continue to be a strong contributor to our recurring revenues. Delivering world-class choices for luxury retail, developing tech-driven approaches to engage the savvy youth and rolling out innovative retailing & leisure concepts will be central to our operational strategy.”
Emaar Malls has a gross leasable area of about 6 million sq ft. This is being expanded with the ongoing addition of another 1 million sq ft built-up area at The Dubai Mall’s Fashion Avenue. This will add another 150 leading international and local brands to the mall.
In 2015, Emaar Malls recorded a net profit of AED 1.656 billion while rental income was AED 2.992 billion. Rental income recorded a growth of 11 per cent to AED 2.992 billion, compared to AED 2.694 billion in FY2014.
Visitor arrivals across all Emaar Malls assets crossed 124 million in 2015, an increase of 9 per cent compared to 2014, with The Dubai Mall accounting for 80 million annual visitors, once again clinching the honour as the world’s most-visited shopping and leisure destination. Occupancy levels at the assets of Emaar Malls reached 96 per cent in 2015.