According to a statement released by Emaar yesterday, the company's net income for the period amounted to Dhs716m ($195m). However, despite the company's strong performance in the fourth quarter, its full-year profit fell 27% to Dhs1.794bn.
Emaar's hospitality & leisure business contributed Dhs1.22bn (332 million) to the company's annual revenues in 2011, representing 15% of the total and 22% higher than the 2010 revenue.
In total, the company's shopping malls & retail and hospitality & leisure business segments accounted for 41% of total annual revenues, compared with their combined contribution of about 24% to the revenues in 2010, the company said.
Its operations in Turkey, Pakistan, Egypt, Syria and Saudi Arabia also contributed Dhs1.81bn of revenue, or 22%, compared with 8% a year earlier.
"Our strategy for 2012 is to further increase the share of revenues from global operations and enhance the proportion of profit from recurring revenue streams, including shopping malls & retail and hospitality & leisure," Chairman Mohamed Alabbar said in the statement.
Last year, Emaar completed 350 homes and more than 800,000 square feet of commercial space in Dubai and 604 homes in other markets. Emaar has handed over more than 33,500 residential units since 2001, the company said.
The developer also started Dawahi Development, a new unit to invest in middle-income housing across the Arab world.
Browse
related articles
Emaar's net profit jumps 161% in Q4
- United Arab Emirates: Wednesday, February 15 - 2012 at 09:12
Related content
Dubai-based Emaar properties has reported that its Q4 profit climbed 161% thanks to an increase in revenues from its retail and hospitality segments.
Article Options
Jeff Florian, Senior ReporterWednesday, February 15 - 2012 at 09:12 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / 4C.
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
