Global developer Emaar Properties PJSC tape-recorded a robust full-year 2016 internet revenue of AED 5.233 billion (US$ 1.425 billion), 28 per cent greater as compared to the FY 2015 net profit of AED 4.082 billion (US$ 1.111 billion). Emaar accomplished FY 2016 incomes of AED 15.540 billion (US$ 4.231 billion), a boost of 14 percent over FY 2015 profits of AED 13.661 billion (US$ 3.719 billion).

Highlighting the stamina of its diversified business version, persisting incomes from Emaar's shopping malls, hospitality, entertainment and leisure companies for 2016 was AED 5.976 billion (US$ 1.627 billion) much like 2015, in spite of the ongoing redevelopment at The Address Downtown Dubai. The repeating earnings companies currently account for 38 per cent of the overall Group profits.

Emaar's worldwide operations recorded income of AED 2.665 billion (US$ 726 million) during FY 2016 bookkeeping for 17 percent of the complete Group revenue.

With increase in income payment from real estate, the performance of the shopping malls and hospitality companies, the fourth-quarter (October to December) 2016 net profit of Emaar boosted by 56 per cent to AED 1.613 billion (US$ 439 million) compared with Q4 2015 internet revenue of AED 1.034 billion (US$ 281 million), and 41 per cent above the Q3 (July to September) 2016 internet earnings of AED 1.145 billion (US$ 312 million).

Revenue for Q4 2016 was AED 4.437 billion (US$ 1.208 billion), 16 per cent higher than the Q4 2015 profits of AED 3.812 billion (US$ 1.038 billion), and 15 percent more than the Q3 2016 profits of AED 3.846 billion (US$ 1.047 billion).

Emaar has handed over around 41,500 household devices, 33,947 of them in Dubai. Highlighting its solid development potential, Emaar has a land bank of 190 million sq m globally including a substantial 25 million sq m in the UAE.

Investments in premium real estate added to durable home sales in Dubai throughout 2016 at AED 14.4 billion (US$ 3.92 billion), which is 41 per cent greater than the FY 2015 sales value of AED 10.23 billion (US$ 2.79 billion). Sales across various worldwide markets in 2016 were valued at AED 3.9 billion (US$ 1.1 billion). The Group now has a backlog of AED 42.977 billion (US$ 11.701 billion) to be recognized in the next few years, highlighting its strong economic fundamentals.

Highlighting the self-confidence of regional and worldwide investors in Emaar, in 2016 the company wrapped up a US$ 750 million Sukuk noted on Nasdaq Dubai at affordable pricing.

Future Now strategy
Mohamed Alabbar, Chairman of Emaar Properties, said that the outstanding growth accomplished by the company in 2016 underscores the success of the company's long-term financial investments in developing sustained worth for its stakeholders.

He added: "Emaar's development mirrors the dynamism of the UAE, which has progressed as a global hub for business and recreation. As the country establishes brand-new landmarks in advanced advancements, Emaar will continuously invest in next-generation modern technology to supply modern lifestyles that satisfy the way of living ambitions of our young people and future generations.

" This 'future now' approach establishes the foundation for our development in the coming years, which mirrors the growth goals of Dubai as a smart and sustainable city, steered by the visionary management of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai."

New icons of the future
Emaar's technique of shaping the future today was specified in 2016 with Dubai Hills Estate, the 11 million sq m 'green city within the city,' which will certainly also showcase a first-rate retail center and is set around an 18-hole championship fairway.

Emaar has set another new landmark in city advancement with the launch of The Tower in Dubai Creek Harbour, billed to be one of the legendary attractions on the planet, and embeded in the heart of a 6 sq kilometres mega-development. Likewise featuring a retail district for premium brands, Dubai Creek Harbour develops a new sky line for the nation.

Emaar has actually additionally released Emaar South, a next-generation way of life destination in the new aviation and logistics center of the city, Dubai South.

Having actually produced significant worth to the economy via Midtown Dubai, Emaar supplied a compelling icon in the 500-acre mega-development - Dubai Opera in The Opera District. A social hub, it works as a magnet for talent from across the world, and is a must-visit destination for site visitors to the city.

Proven toughness in shopping centers and hospitality
Emaar Malls (DFM: EMAARMALLS), the shopping center & retail business majority-owned by Emaar Properties, recorded a net profit of AED 1.874 billion (US$ 510 million) throughout 2016, a boost of 13 percent over the FY 2015 web earnings of AED 1.656 billion (US$ 451 million). FY 2016 income recorded a growth of 8 per cent to AED 3.227 billion (US$ 879 million) as compared to FY 2015 income of AED 2.992 billion (US$ 815 million).

The shopping malls assets of Emaar Malls together welcomed 125 million site visitors during 2016, much like annual tramp throughout 2015. The Dubai Mall established a comparable tramp level of 80 million visitors for 3rd consecutive year despite recurring growth in and around the shopping center, restating its track record as the world's most-visited retail and lifestyle location.

With a gross leasable location of regarding 6 million sq feet in Dubai, Emaar Malls gets on timetable with the development of The Dubai Mall's Style Method by another 1 million sq ft built-up location this year. Over 150 international brand names will certainly be added aside from some of Dubai's first worldwide F&B and leisure options. In addition, The Dubai Mall will certainly take on the Blvd, Fountain Sights and Zabeel expansions including new retail and recreation destinations.

The hospitality & leisure, commercial leasing and enjoyment business of Emaar recorded revenues of AED 2.749 billion (US$ 748 million) throughout the year ended 31 December 2016.

Average occupancy of resorts under Emaar Hospitality Group in Dubai throughout the year finished 31 December 2016 was 85%, higher than the industry average and 5 per cent higher than in 2014.

Rove Hotels, a new modern mid-market hotel and homes brand (a joint endeavor with Meraas Holding), opened up two resorts - Rove Downtown Dubai and Rove City Centre in 2016. In all 10 Rove Hotels will open up in Dubai, adding over 3,700 areas, just in time for Expo 2020. Emaar Hospitality Group is also expanding its profile to international markets with tasks in Saudi Arabia, Bahrain, Egypt and Turkey and a development pipeline of about 35 resorts and serviced homes in Dubai and international markets.

Developer of the Year
Emaar won the prominent recognition as the 'Developer of the Year' at the Arabian Business Accomplishment Honors 2016. It highlights Emaar's tried and tested track-record in delivering regular value for its stakeholders, and its solid competencies in delivering exceptional realty properties in Dubai and other worldwide markets.