AIRLINK 157.50 Increased By ▲ 5.38 (3.54%)
BOP 9.37 Increased By ▲ 0.25 (2.74%)
CNERGY 7.10 Increased By ▲ 0.01 (0.14%)
CPHL 84.00 Increased By ▲ 1.71 (2.08%)
FCCL 43.70 Increased By ▲ 0.89 (2.08%)
FFL 14.71 Increased By ▲ 0.50 (3.52%)
FLYNG 28.62 Increased By ▲ 0.03 (0.1%)
HUBC 134.60 Increased By ▲ 2.66 (2.02%)
HUMNL 12.50 Increased By ▲ 0.27 (2.21%)
KEL 4.08 Increased By ▲ 0.08 (2%)
KOSM 5.16 Increased By ▲ 0.25 (5.09%)
MLCF 68.80 Increased By ▲ 1.75 (2.61%)
OGDC 203.48 Increased By ▲ 3.10 (1.55%)
PACE 5.01 Increased By ▲ 0.02 (0.4%)
PAEL 42.50 Increased By ▲ 1.00 (2.41%)
PIAHCLA 16.49 Increased By ▲ 0.27 (1.66%)
PIBTL 8.70 Increased By ▲ 0.28 (3.33%)
POWER 13.30 Increased By ▲ 0.25 (1.92%)
PPL 150.80 Increased By ▲ 2.20 (1.48%)
PRL 28.71 Increased By ▲ 1.00 (3.61%)
PTC 20.15 Increased By ▲ 0.69 (3.55%)
SEARL 84.20 Increased By ▲ 2.23 (2.72%)
SSGC 38.92 Increased By ▲ 1.65 (4.43%)
SYM 14.76 Increased By ▲ 0.38 (2.64%)
TELE 6.98 Increased By ▲ 0.16 (2.35%)
TPLP 8.36 Increased By ▲ 0.22 (2.7%)
TRG 64.08 Increased By ▲ 0.95 (1.5%)
WAVESAPP 8.40 Increased By ▲ 0.36 (4.48%)
WTL 1.27 Increased By ▲ 0.02 (1.6%)
YOUW 3.45 Increased By ▲ 0.10 (2.99%)
AIRLINK 157.50 Increased By ▲ 5.38 (3.54%)
BOP 9.37 Increased By ▲ 0.25 (2.74%)
CNERGY 7.10 Increased By ▲ 0.01 (0.14%)
CPHL 84.00 Increased By ▲ 1.71 (2.08%)
FCCL 43.70 Increased By ▲ 0.89 (2.08%)
FFL 14.71 Increased By ▲ 0.50 (3.52%)
FLYNG 28.62 Increased By ▲ 0.03 (0.1%)
HUBC 134.60 Increased By ▲ 2.66 (2.02%)
HUMNL 12.50 Increased By ▲ 0.27 (2.21%)
KEL 4.08 Increased By ▲ 0.08 (2%)
KOSM 5.16 Increased By ▲ 0.25 (5.09%)
MLCF 68.80 Increased By ▲ 1.75 (2.61%)
OGDC 203.48 Increased By ▲ 3.10 (1.55%)
PACE 5.01 Increased By ▲ 0.02 (0.4%)
PAEL 42.50 Increased By ▲ 1.00 (2.41%)
PIAHCLA 16.49 Increased By ▲ 0.27 (1.66%)
PIBTL 8.70 Increased By ▲ 0.28 (3.33%)
POWER 13.30 Increased By ▲ 0.25 (1.92%)
PPL 150.80 Increased By ▲ 2.20 (1.48%)
PRL 28.71 Increased By ▲ 1.00 (3.61%)
PTC 20.15 Increased By ▲ 0.69 (3.55%)
SEARL 84.20 Increased By ▲ 2.23 (2.72%)
SSGC 38.92 Increased By ▲ 1.65 (4.43%)
SYM 14.76 Increased By ▲ 0.38 (2.64%)
TELE 6.98 Increased By ▲ 0.16 (2.35%)
TPLP 8.36 Increased By ▲ 0.22 (2.7%)
TRG 64.08 Increased By ▲ 0.95 (1.5%)
WAVESAPP 8.40 Increased By ▲ 0.36 (4.48%)
WTL 1.27 Increased By ▲ 0.02 (1.6%)
YOUW 3.45 Increased By ▲ 0.10 (2.99%)
BR100 12,058 Increased By 281.5 (2.39%)
BR30 35,221 Increased By 811.8 (2.36%)
KSE100 113,240 Increased By 1913.9 (1.72%)
KSE30 34,655 Increased By 661.6 (1.95%)

Dubai's largest listed developer Emaar Properties reported a 29 percent fall in third quarter profit on Wednesday, below analysts' forecasts. The developer of the Burj Khalifa, the world's tallest building, did not say why profit fell, though Dubai's property market has been suffering from a prolonged downturn.
Emaar made a net profit of 1.1 billion dirhams ($299.48 million) in the three months to Sept. 30, down from 1.5 billion dirhams a year earlier. Revenue fell 5 percent to 5.3 billion dirhams. EFG Hermes had forecast a net profit of 1.4 billion dirhams, while SICO Bahrain had projected 1.3 billion dirhams profit.
Residential prices in Dubai have fallen by more than 15 percent since 2014 due to excess supply and muted appetite for new sales. DAMAC Properties earlier reported a 68 percent plunge in third-quarter net profit. DAMAC has stopped buying land but would consider joint venture agreements with other developers and land owners, Chief Financial Officer Adil Taqi was quoted by Abu Dhabi state-linked newspaper The National as saying on Wednesday.

Copyright Reuters, 2018

Comments

Comments are closed.