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Emaar profits hit $1.8bn in 2017

UAE Business


Dubai-based Emaar Properties made $1.8 billion in profit and close to $5 billion in sales in 2017, Mohamed Alabbar, chairman of the listed developer said.
 
The figure is an increase on the $1.43 billion profits reported in 2016. 
 
"We've been growing about 20 to 25 percent on an annual basis," Alabbar was quoted as saying by a Khaleej Times report at a conference in Abu Dhabi. 
 
Emaar, in which the Dubai government owns a minority stake, reported double-digit quarterly sales growth in each of the first three quarters of 2017, it said.

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