Dubai's largest listed developer Emaar Properties said on Sunday third quar...
) said on Sunday third quarter net profit jumped 20% despite a prolonged slowdown in the emirate’s property sector.
A supply glut has slowed the market for most of the decade, apart from a brief pick up more than five years ago, sending prices down by at least a quarter since 2014. Arqaam Capital estimated the developer would make 1.2 billion dirhams, while EFG Hermes estimated 1.3 billion dirhams.Emaar said it has launched 19 projects across its mega developments in Dubai in the nine months of the year, with a total project value of 10.1 billion dirhams.
DAMAC Properties DAMAC.DU Chairman Hussain Sajwani has accused a large rival of “dumping in the market.”
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