Emaar reported its net profit

Emaar has reported its H1 2023 net profit has reached $1.3 billion

It's a 15% growth compared to the same period in 2022.

During H1 2023:

• Emaar group property sales increased by 14% to $5.5 billion
• The developer's credit rating was upgraded
• Emaar's UAE hotels, including those under management, average occupancy rate reached 70%
• Was announced the opening of the hotel, Address Jabal Omar Makkah, featuring 1,484 rooms, located at the heart of Mecca, Saudi Arabia
• The developer's international property sales reached $327 million, most of them in Egypt and India
• Recurring revenue rose by 11% compared to H1 2022
• Emaar Development, a majority-owned subsidiary, sales went up by 25%, totalled $5.2 billion, compared to $4.1 billion in H1 2022

Only in June, the developer announced:

• Launch of the premium resort-style project The Oasis by Emaar
• Start of sales of townhouses in Rivana
• Start of sales of apartments in Rachid Yacht & Marina