Dubai’s Emaar Properties Q3 net profit rises 31 per cent

Dubai’s Emaar Properties, builder of the world’s tallest tower, reported a 31 per cent rise in third-quarter net profit on Sunday.

The developer, in which Dubai’s government owns a minority stake, made a net profit of Dh843 million in the three months to September 30, Emaar said in a statement. That compares with a profit of Dh645m in the year-earlier period, it said.

EFG Hermes had forecast Emaar’s third-quarter profit would be Dh1.02 billion.

More to follow.

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