by Amruth Sundarkumar | Jun 6, 2022 | Corporates, Credit Ratings
Emaar Properties PJSC and Emaar Malls were upgraded from BB+ to BBB- by S&P. It reported a record high presales revenue of AED 27.4bn ($7.5bn) in 2021 and continues to have a strong outlook for 2022-2023, with international revenue expected to climb at...
by Amruth Sundarkumar | Sep 7, 2021 | High Yield Bonds
Emirati real estate company Emaar Properties has received final approval for a merger with related mall operator Emaar Malls. As per the joint statement issued on Monday, “The move will reinforce Emaar Properties’ position as MENA’s largest integrated and...
by Amruth Sundarkumar | Aug 11, 2021 | Corporates
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...
by bondevalue | May 10, 2021 | Investment Grade Bonds
Emaar Malls reported net profits of AED 318mn ($87mn) for 1Q2021, up 169% vs. 4Q2020. Emaar’s e-commerce fashion and lifestyle platform Namshi saw revenues of AED 258mn ($70mn) helped by growth in Saudi Arabia, Kuwait and other GCC countries. Occupancy levels across...
by bondevalue | Apr 14, 2021 | Investment Grade Bonds
UAE property developers Aldar and Emaar reported strong sales numbers as the UAE property market gathers steam. Abu Dhabi’s Aldar said that investors snapped up all 480 residential units in the Noya Viva expansion on Yas Island within 48 hours, generating AED 1bn...
