Emaar records 122 percent growth

Dubai-based real estate giant Emaar Properties, builder of the world's tallest tower posted on Thursday a 122 percent growth in net profits in the first half of 2010 compared to the same period last year. Emaar posted 746 million dirhams in net operating profits in the first half of 2009.
The partly state-owned company also said its revenues had grown by 59 percent throughout the first half of 2010, to reach 5.54 billion dirhams (1.5 billion dollars) compared with last year's 3.5 billion dirhams (948 million dollars). Its net operating profits for the second quarter of 2010 reached 896 million dirhams (244 million dollars), 18 percent up on the first quarter.