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Discussion Starter #1
Hi, well EMAAR made tons of money as profit for Q1, enjoy:


Dubai firm's towering profits
DUBAI: Dubai-based developer EMAAR Properties, which is building what is projected to be the world's tallest skyscraper, announced yesterday record first quarter net profits of 1.32 billion dirhams ($360 million).

EMAAR said in a statement the figure was up 537 per cent on 20m dirhams achieved in the same period last year, a record rise. Revenues rose 154pc to 2.83bn dirhams compared with the corresponding period in 2004, said EMAAR, which last year posted net profits of 1.69bn dirhams.

Earnings per share reached 1.96 dirhams.

When completed, EMAAR's Burj Dubai tower will stand some 800 metres high, comfortably taller than any building currently standing.

Dubai is in the midst of a construction frenzy, with resorts, malls and residential complexes sprouting across its desert sands.

The emirate aims to establish itself as the Gulf's business and leisure hub, and plans to attract 15m visitors a year by 2010 and 40m by 2015.

EMAAR, which lists the Dubai government as the largest of its 41,000 shareholders and boasts a $7.7bn asset base, has some 15 projects currently in the Gulf city-state.

Its subsidiaries include Dubai Bank, EMRILL, a joint property and facilities management services venture with the UK-based Carillion plc, Sahm Technologies and the Amlak Finance mortgage company.
 

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not surprised, good for them through... most of their properties are unique, hot on the market, and i am also forced to live in their property! (not forced, but gladly) They deserve it.

Wish I couldve invested in them long before.
 

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Under the Burj
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anyone here belive them?

there making a profit, but these are just lies to get better publicity.
 

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ragga said:
not surprised, good for them through... most of their properties are unique, hot on the market, and i am also forced to live in their property! (not forced, but gladly) They deserve it.
You find a hundred streets of Meadows land unique??
 

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it must be true, because why would anyone waste there money building all these projects, when u cant make money of them.
 

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Under the Burj
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i'm sure there making money, but somewhere between the accountants and the publication, a magic wand is waved and the figures tripple. they could be making this much money, or maybe they are postponing the inclusion of develpments like the burj dubai, as this would dent the image of 'all glorious emmar'
 
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