Emaar Properties announced that its quarterly profits declined by 67%, to reach 430 million dirhams, and the company attributed the decline in its profits to the decline in revenues as a result of the pandemic, by 28%, to reach 4.3 billion dirhams.
Emaar Development's quarterly profit decreased by 53% to AED 320 million. Revenue for the same period increased by 31%, to reach 2.3 billion dirhams.
and for Emaar Malls, quarterly profits fell by 60%, to 240 One million dirhams, and the company attributed the decline in its profits as a result of being affected by the Corona pandemic, which affected the company's revenues, and the company's quarterly revenues decreased by 30% to reach 835 million dirhams.
In addition, the quarterly losses of Emaar The Economic City decreased by 12% compared to the quarter The third of last year, amounting to 187 million riyals, and the company attributed the reduction of losses to the improvement of the performance of operating assets, especially hospitality and entertainment assets, after easing the internal movement restrictions, as well as the decrease in the cost of financing as a result of lower interest rates on existing facilities. In addition to the improvement in the profitability of the Port Development Company, which led to an increase in the group's share of the profits of the invested companies
