Home RSS
Real Estate

Emaar earnings to surge on property handover

Trade Arabia
Emaar earnings to surge on property handover - Emaar Properties - developer - Dubai - UAE

Dubai's Emaar Properties remains a lone bright spot in a gloomy outlook for UAE developers, but woes are set to continue for Abu Dhabi's Aldar Properties with an expected third-quarter loss.

Real estate firms across the Gulf state have been hit hard by the global financial crisis and the pain is set to continue for most listed firms in Dubai and Abu Dhabi, likely reflected in quarterly earnings to be released later in October.

A recovery in Dubai's property sector is still some three to five years away, despite a confidence boost from the restructuring of conglomerate Dubai World and Dubai's recent return to international debt markets, Marwan Shehadeh, group director of corporate development at UAE conglomerate Al Futtaim Group, said.

Most analysts expect Emaar to increase earnings in the third quarter, boosted by the handover of properties at Burj Khalifa, the world's tallest tower.


Add your comment
  Anonymous comment
  Remember me on this computer

Send me by email any answer to my comment
Send me by email every new comment to this article

Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.