Dubai – Mubasher: Emaar Malls,​ the retail and shopping malls arm of Emaar Properties, has reported an 8% year-on-year growth in net profit during the first six months of 2018, recording AED 1.102 billion ($300 million).

The company’s revenue increased to AED 2.103 billion in H1-18, up 29% from the same period in the year before, according to a company statement.  

“In a short span of time, Emaar Malls has underlined its strength in delivering world-class retail destinations that meet the aspirations of both UAE residents and tourists,” chairman of Emaar Properties and board member of Emaar Malls Mohamed Alabbar commented.

Emaar Malls’ net profit rose 15% to AED 554 million in the second quarter of the year, up 15% from the year-ago period.

Moreover, revenue hiked 35% year-on-year to AED 1.065 billion in Q2-18, the Dubai-listed company’s data showed.

“We are now taking the Emaar Malls growth story to the next level with a firmer focus on omnichannel retailing and the creation of iconic new destinations that will reshape retail dynamics,” Alabbar said.

The assets of the shopping malls firm received 67 million visitors from January to the end of June.