Emaar Properties PJSC, which opened the world’s tallest skyscraper this year in Dubai, said the first quarter profits more than tripled, helped by its shopping mall and hotel units.
Net income rose to 760 million dirhams ($207 million) from 237 million dirhams a year earlier, the developer said in a stock exchange statement. That exceeded the 336 million-dirham average of six analyst estimates compiled by Bloomberg. Emaar is focusing on markets such as North Africa and South Asia after property prices in its home market of Dubai fell by more than 50 per cent.