Dubai – Mubasher: Emaar Properties has reported an 18% year-on-year growth in net profit during the first six months of 2018, recording AED 3.344 billion ($910 million).

The company’s revenue soared 46% to AED 11.474 billion in H1-18, compared to AED 7.87 billion in the year-ago period, according to a bourse statement released on Tuesday.

“The strong financial performance of the company during the half-year highlights the strength of Dubai’s economy and its appeal to international investors and tourists,” Emaar’s chairman Mohamed Alabbar commented.

Net profit reached AED 1.679 billion in the second quarter of the year, up 16% from the comparative period of 2017, the Dubai-based developer’s data showed.

Revenue surged 55% to AED 5.9 billion in Q2-18 versus AED 3.8 billion in the same quarter a year earlier.

“Our focus continues to be creating premium real estate assets and strengthening the competencies of our malls and hospitality business to add value to our stakeholders,” Alabbar said.