Emaar Malls Records Net Profit to AED 1.070 billion (US$ 291million) in the first nine months of 2021

 

 

Dubai, United Arab Emirates; November 09, 2021: Emaar Malls (DFM: EMAARMALLS) registered a net profit of AED 1.070 billion (US$ 291 million) during the first nine months (January to September) of 2021 against AED 3.191 billion (US$ 869 million) in revenue for the first nine months of 2021.

 

Emaar Malls reported a third-quarter (July to September) 2021 net profit of AED 448 million (US$ 122 million), against AED 1.143 billion (US$ 311 million) in revenue for Q3 2021.

Emaar Mall’s e-commerce fashion and lifestyle platform, Namshi, a wholly owned subsidiary, recorded sales of AED 320 million (US$ 87 million) for Q3 2021. 

Resilient Occupancy

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. 

Upcoming Developments

Scheduled to open in Q1 2022, Emaar’s Dubai Hills Mall will feature up to 600 outlets, including an array of retail stores, restaurants and cafés. The mall boasts a gross leasable area of 2 million sq. ft., together with four major family entertainment and leisure centres, as well as a cineplex, hypermarket, multiple anchor retail stores, an indoor roller coaster and dedicated parking for over 7,000 vehicles.

 

With more shoppers returning to retail settings, Emaar Malls has initiated an impressive range of additional programmes that the whole family can benefit from and enjoy. With the exciting Zabeel Sports District, a unique indoor sporting facility, due to open in November 2021 on the rooftop of The Dubai Mall Zabeel, Emaar Malls is committed to providing exceptional experiences for all guests across its destinations. 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. Chinatown will feature a plethora of authentic Chinese brands, as well as variety of food and beverage outlets that appeal to all shoppers.