By: Mahmoud Gamal
Dubai – Mubasher: Emaar Properties’ stock surged 6.5% to AED 7.36 on the Dubai Financial Market (DFM) in the first week of January, amid positive expectations regarding the company’s ability to maintain its profits’ annual growth.
Emaar Properties’ market capitalisation reached AED 525.69 billion during the first three sessions in 2018, with a turnover of AED 216 million, which made up 13% of the DFM’s liquidity.
The company’s general assembly is scheduled to hold a meeting on Sunday, 14 January, to discuss the distribution of AED 4 dividends, generated from Emaar Development’s initial public offering (IPO), according to a company statement.
Good profits on the way
Analysts expect that Emaar Properties’ net profits would be around AED 4.7 billion.
Emaar Properties' profits may grow 8% year-on-year to AED 1.7 billion in the fourth quarter of 2017, said Fadi El-Ghattis MindCraft Consultants’ CEO.
The company’s successful plans to keep its sales stable enough to reach AED 6 billion in Q3-17 supported its results, enabling the Dubai-based company to generate big profits, despite the unstable geopolitical situation, El-Ghattis added,
El-Ghattis further noted that Emaar Properties may face some pressures from its subsidiaries particularly Emaar Malls, whose projects will be subject to the value-added tax (VAT).
The UAE began to levy 5% VAT as of 1 January 2018.
Translated by: Muhammad Khalid
