Emaar forecasts retail revenues to double
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Emaar Properties, the Middle East’s largest real-estate developer, expects revenue from its malls and retail business this year to double to as much as AED1 billion (US$272 million), boosted by new malls. The company last year reported AED498.95 million in revenue from rental income, including retail and mall operations.
According to a Bloomberg report, Emaar is currently building malls in Egypt, Syria and Turkey as it expands regional operations. In November last year the Dubai-based company in November opened the world’s largest shopping centre – the 1.1 million square metre Dubai Mall.
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