Emaar Malls reported net profits of AED 622mn ($169mn) for the first half of 2021, an 80% YoY growth from AED 345mn ($94mn). The revenue grew 23% YoY to AED 2.05bn ($558mn). The strong results were led by strong occupancy levels of 91% across its assets including the Dubai Mall, Dubai Marina Mall and Gold & Diamond Park. Online consumer spending also grew with Emaar’s e-commerce business, Namshi posting revenues of $116mn in Q2, up 65% QoQ. Retail sales for tenants grew 77% YoY in H1. The company said, “steady recovery from the pandemic’s impact on the global retail market” fueled growth in 2Q2021.
Emaar Malls’ 4.564% 2024 was flat 106.72 yielding 2.1%.
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