Net income of $ 308 million from Emaar Properties in 6 months

Emaar Malls, a retail and shopping center, posted net income growth of 3% in the first half of 2019 to reach A $ 1,130 billion ($ 308 million), compared to a net profit of $ 1.102 billion Australian dollars ($ 300 million).

In the first half of 2019, Emaar Malls achieved a turnover of 2,227 billion dirhams (606 million dollars), an increase of 6% compared to 2.103 billion AED (573 million dollars) in the first semester of 2018.

Emaar Properties distributed for the fourth consecutive year and in the second quarter cash dividends in the amount of A $ 1.301 billion ($ 354 million), representing 10% of the share capital of the company.

Emaar shopping centers, which include Dubai Mall, Dubai Marina Mall, Gold and Diamond Resorts, Souk Al Bahar and shopping malls in residential complexes, attracted a total of 68 million visitors in the first six months of 2019, with a growth of 2%, against 67 million during the same period last year.

The Dubai Mall, the largest shopping and entertainment destination in the world, attracted 41 million visitors in the first half of 2019, an increase of 2% over the same period last year.

The company also maintained a high occupancy rate of all badets of 92% during the first half of 2019.

Emaar Malls also acquired Namshei, the leading e-commerce company in the fashion sector in the region.

This follows Emaar's acquisition of the remainder of Global Fashion Group's interest in Nimchi through a cash transaction of AED 496.9 million ($ 135 million).

In the first half of 2019, Nemshi achieved a turnover of 422 million AED (115 million USD), an increase of 10% over online sales of AED 384 million (105 million USD) compared to first half of 2018.

"Emaar Malls has always sought to enrich the customer experience, which has resulted in continued business growth, both in shopping centers and online," said Mohammed. Alabbar, chairman of the board of Emaar Properties and board member of Emaar Malls. Thanks to the company "Nimchi", which we acquired completely.

"We continue to work with Omni Channel to ensure all our customers have an exceptional shopping experience, and the company's positive performance reflects the unique position of our badets as a shopping and entertainment destination of choice for all. With significant growth in the number of tourists coming to Dubai, S & P is established as a leading global hub for tourism and business.

Emaar Malls will continue to strengthen its retail infrastructure with the Fountain View and Zabeel extensions to connect Dubai Mall to Sheikh Mohammed Bin Rashid Boulevard and Financial Center Road, respectively.

He added: "The two projects are expected to open this year, to accommodate 4500 parking spaces at the Dubai Mall, which will ensure better facilities for visitors.

Emaar Malls will open its new Dubai Hills Mall in 2020, with approximately 2 million square feet of commercial space for rent and approximately 550 stores and recreational facilities.

The Dubai Hills Mall will include four major entertainment centers for families, a cinema complex, a hypermarket, seven large supermarkets and more than 7,000 parking spaces.

Emaar Malls is redeveloping the village of Al Sahool to add approximately 95,000 square feet of rental space, which is expected to be completed by 2020.