Visitors to Emaar Malls's shopping centres rose by 7 per cent  to 31 million. Kamran Jebreili / AP Photo
Visitors to Emaar Malls's shopping centres rose by 7 per cent to 31 million. Kamran Jebreili / AP Photo

Rising visitor numbers boost Emaar Malls first-quarter profit by 32%



First-quarter profit at Emaar Malls, operator of The Dubai Mall, rose by a third on an annual basis on the back of a 7 per cent jump in visitor numbers to its shopping centres to 31 million.

Net profit for the first three months of 2015 stood at Dh433 million, up about 32 per cent compared with the Dh329m recorded a year ago, Emaar Malls said in a statement to the Dubai bourse yesterday.

Revenue increased more than 21 per cent over the year to stand at Dh735m, up from Dh605m.

The company which floated last year but remains majority owned by the Dubai developer Emaar, said that total sales by all of its tenants across its portfolio stood at Dh5.2 billion for the period, with Dh4.6bn coming from The Dubai Mall – a similar level to the same period the previous year. This equated to Dh5,015 per square foot of leasable area.

"Emaar Malls is now focused on its next level of growth through aggressive expansion in Dubai and international markets," said Mohamed Alabbar, the chairman of Emaar Malls and Emaar Properties.

Analysts pointed out that although the number of Russian visitors had fallen over the period, the company was likely to have benefited from an influx of Saudi shoppers, who in January received a bonus worth an extra two months’ salary on the occasion of the accession of the new king.

The results, which were published after trading closed on the DFM yesterady, did not affect the Emaar Malls share price which fell marginally to close at Dh3.17.

lbarnard@thenational.ae

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German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

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1. Max Verstappen, Netherlands, Red Bull Racing Honda, 1 minute, 35.246 seconds.
2. Valtteri Bottas, Finland, Mercedes, 1:35.271.
3. Lewis Hamilton, Great Britain, Mercedes, 1:35.332.
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5. Alexander Albon, Thailand, Red Bull Racing Honda, 1:35.571.
6. Carlos Sainz Jr, Spain, McLaren Renault, 1:35.815.
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9. Charles Leclerc, Monaco, Ferrari, 1:36.065.
10. Pierre Gasly, France, Scuderia Toro Rosso Honda, 1:36.242.

Eliminated after second session

11. Esteban Ocon, France, Renault, 1:36.359.
12. Daniel Ricciardo, Australia, Renault, 1:36.406.
13. Sebastian Vettel, Germany, Ferrari, 1:36.631.
14. Antonio Giovinazzi, Italy, Alfa Romeo Racing Ferrari, 1:38.248.

Eliminated after first session

15. Antonio Giovinazzi, Italy, Alfa Romeo Racing Ferrari, 1:37.075.
16. Kimi Raikkonen, Finland, Alfa Romeo Racing Ferrari, 1:37.555.
17. Kevin Magnussen, Denmark, Haas Ferrari, 1:37.863.
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20. Nicholas Latifi, Canada, Williams Mercedes, 1:38.443.

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
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The rules on fostering in the UAE

A foster couple or family must:

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