PHOTO
A logo of Dubai's Emaar Properties is seen on a building in Dubai, United Arab Emirates January 12, 2018. REUTERS/Ahmed Jadallah
DUBAI - Emaar Properties, Dubai's biggest listed real estate company, on Thursday reported a better than expected 43% jump in first-quarter net profit on higher group property sales.
Net profit in the three months to March 31 was 3.2 billion dirhams ($871.53 million). That was more than double analyst expectations of 1.65 billion dirhams, Refinitiv data shows.
Group property sales rose 11% to 9.2 billion dirhams, "supported by an increase in tenant sales and a resurgence in tourism activity", the company said.
($1 = 3.6717 UAE dirham)
(Reporting by Yousef Saba; Editing by David Goodman)