Emaar Properties' net profit fell by 35% to 2.007 billion dirhams, or the equivalent of $ 546 million in the first half of 2020.
According to Arabiya Net, the company attributed the decline in its profits to the decline in revenues by twenty two percent, to reach 9 billion dirhams.
The company said that it made these profits despite volatile market conditions due to precautionary measures to limit the spread of the Corona virus.
and added that its real estate sales in the first half in the UAE amounted to 3.23 billion dirhams, and that the total amounts owed on projects under completion amounted to 41.7 billion dirhams, whose revenues will be calculated over the years. Next.
and the cost of revenue decreased by 10%, while the company recorded losses from its share in sister companies amounting to 286 million dirhams, an increase of 40%, over the corresponding period of Last year.
(Amazon fun knowledge)
