As for commercial properties, Emaar Malls Management showed a 36% growth in Q1 2022, in which revenue reached AED 1.2B (USD 336M). The net profit for Q1 2022 reached AED 635M (USD 173M) which is 136% higher compared to the same period in the previous year. The leasing occupancy was also improved at 93%. Emaar Entertainment released Adventure Park, the indoor play area for children, as well as The Storm Coaster, which is a breathtaking indoor rollercoaster, at Dubai Hills Mall, and was opened by Emaar Malls Management in February 2022.
The hotels under Emaar Hospitality Group boast an average occupancy level of 80% which shows the recovery of tourism in the Persian Gulf countries. A revenue of AED 843M (USD 230M) was recorded in Q1 2022 by the hospitality, entertainment, leisure and business sectors of Emaar. Together they showed a revenue amount of AED 2.1B (USD 566M) which is 31% of Emaar’s total revenue, and 62% higher in comparison to the numbers within the same period of the previous year.
Real estate units by Emaar are always in high demand among locals and foreigners. If you are wanting to purchase a real estate unit by this world-famous company, you might be interested in knowing more about TOP-9 of Emaar projects in Dubai