Emaar Malls clears Dh1b+ profit in first-nine months of 2021
Dubai: Emaar Malls pulled off a net profit of Dh1.07 billion during the first-nine months of 2021 against Dh3.191 billion in revenue. The mega-retailer reported a third-quarter net profit of Dh448 million and Dh1.143 billion in revenue.
The e-commerce fashion and lifestyle platform, Namshi, recorded sales of Dh320 million. Occupancy levels across Emaar Malls’ assets – The Dubai Mall, Dubai Marina Mall, Gold & Diamond Park, Souk Al Bahar, and the Community Retail Centres – remained 91 per cent during the quarter.
Emaar’s Dubai Hills Mall has a packed schedule for the upcoming quarter. Dubai’s mall major will feature up to 600 outlets, including an array of retail stores, restaurants and cafés. The mall is spread over leasable area of 2 million square feet, together with four major family entertainment and leisure centres, multiple anchor retail stores, and an indoor roller coaster.
With more shoppers returning to retail settings, Emaar Malls has implemented additional programmes like Zabeel Sports District, an indoor sporting facility, due to open shortly on the rooftop of The Dubai Mall. Shoppers can also look forward to the region’s first Chinatown, which is expected to open at The Dubai Mall in the second-half of 2022.