Emaar Properties dragged on the Dubai index this morning after the developer's Indian unit swung to a net loss. The Indian subsidiary of the developer of the world's tallest skyscraper, the Burj Khalifa in Dubai, swung to a loss of 2.1 billion Indian rupees ($46 million) for the year ended March 31.
Dubai's index edged higher, but trading was lacklustre as investors await quarterly earnings from bellwether Emaar Properties. Emaar ended flat. The developer is forecast to a report a 6.8 percent rise in third-quarter profit, according to analysts polled by Reuters. "Locally, investors are waiting on Emaar," said Haissam Arabi, chief executive and fund manager at Gulfmena Alternative Investments.
Emaar Hospitality Group, the hospitality & leisure subsidiary of Emaar Properties, has announced the appointment of Mr Jurgen Baumhoff as Chief Operating Officer, responsible for leading the management team across all aspects of operations.
Emaar Properties PJSC, developer of the world's tallest tower Burj Khalifa, Tuesday reported net operating profit of Dh843 million ($230 million) in the first six months of 2011.
Emaar said net profits dropped to 612 million dirhams (166.8 million dollars) in the quarter ending September 30, compared to 655 million dirhams in the corresponding period last year. The developer that built the world's tallest tower, Burj Khalifa, said however that its revenues increased 43 percent to 2.8 billion dirhams in the same period.
January 30, 2010: Emaar Malls Group, the shopping mall and retail subsidiary of Emaar Properties, is blending luxury travel and leisure to offer an unparalleled array of exciting events and promotions to the 15th edition of Dubai Shopping Festival 2010, the month-long shopping and entertainment extravaganza running January 28 - February 28, 2010.
Shades, the spectacular lounge situated by the infinity pool on the fourth floor of The Address Dubai Marina, has opened doors to guests.
Emaar Retail is offering lovebirds in the country a chance to wish their Valentine on the big screen, in 70mm. Emaar Retail, which manages Reel Cinemas, the flagship 22-screen cinema at The Dubai Mall, as well as at Dubai Marina Mall, said in a statement that for a fee, it is offering moviegoers in the emirate a chance to “make an announcement on February 14 with a personalised Valentine’s Day greeting on the big screen for only Dh300.”