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Emaar has a higher margin than the sale of residential units
Source: Arabic.Net
Mohammed Ali Yasin, Managing Director, Strategies and Clients at Al Dhabi Bank Limited, said the continuous improvement of the GCC markets should remain an integral part of the local investor.
"The quality of the properties sold could have affected the results of Emaar Properties," Yasin said in an interview with Al Arabiya. "The profit margin is higher, but the residential buildings are slightly weaker and could be on the map.In the first quarter of this year, Abu Dhabi National Hotels did not capture this data in the second quarter.
He described the results of Emaar Properties as reflecting the reality of the real estate markets of the United Arab Emirates. Each year, Emaar has a low season and may be the second quarter, with profits below expectations of 4%.
Emaar Properties, Dubai's largest real estate developer, lost 7.4% in the second quarter, as the property market in the Middle East fell.
The real estate market in Dubai, which has been overpopulated by at least a quarter since mid-2014, has fallen.
Emaar posted net profit of 1.37 billion dirhams ($ 373 million) in April-June, according to Reuters calculations based on a statement released Sunday by the company, against 1.48 billion dirhams in the second quarter of 2018 .
"We see in Saudi Arabia, for example, that in some portfolios, the volume of transactions can reach $ 1 billion per day.In spite of the movement last month, the markets remained at levels of 400 to 500 million per day Losing the local investor, speculative companies, many of which have either ceased trading or have fallen back to a quarter dirham, have thus lost significantly. "
"We have to do two things to make the local investor profitable: first, there must be economic growth (growth of investor wealth), when there is an economic slowdown, the growth of wealth does not occur. not exist because there is no provision, "Other companies have published results in line with expectations or less, so we go back and ask the most important question: what is the catalyst for the investor today? "
"Geopolitical tensions must be eased if we want to talk about attracting a local investor," he said. I think that, given the weak economic growth we're seeing, corporate performance is not bad, especially if the investor is in the long run and distributions are made.
The cheaper Emirati markets are not only in terms of repetition, but also 5% of the return on profits. Where do you place your investments in a negative return environment in Europe or Japan? I see a market opportunity if you are a long term investor. The short-term speculator is non-existent and its impact is over in the markets. "
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