Dubai’s Emaar Properties reports 55% profit rise

Emaar is the developer behind the Burj Khalifa, the world’s tallest tower. (File photo: Shutterstock)

Dubai’s Emaar Properties reported a 55 percent rise in first-quarter net profit on Tuesday that was slightly below analyst estimates.

The builder of the world’s tallest tower, the Burj Khalifa, reported a profit of 863 million dirhams ($234.96 million) in the three months to March 31, it said in a statement.

This compares with a profit of 556 million dirhams in the prior year period.

Analysts polled by Reuters on average forecast Emaar would make a quarterly profit of 873 million dirhams.

Last Update: Wednesday, 20 May 2020 KSA 09:42 - GMT 06:42