** Shares in Dubai's developer Emaar Development and Emaar Malls rise after they posted increase in annual profits
** Emaar Development reported full year profit of 3.90 bln dirhams ($1.06 billion) compared with 2.74 bln dirhams a year earlier
** Emaar Malls posted its 2018 net profit of 2.23 bln dirhams versus 2.09 bln dirhams in 2017
** Emaar Development shares rose 6.2 pct to 3.6 dirhams
** Emaar Malls shares surge 6.7 pct to 1.6 dirhams
** Shares of their parent company Emaar Properties was up 5.5 pct at 4 dirhams. Other property shares also benefited from the rally, with DAMAC up 1.6 pct even though it posted a nearly 60 pct drop in annual profit.
** Dubai index up 1.4 pct in early trade ($1 = 3.6726 UAE dirham)
(Reporting by Maqsood Alam in Bengaluru; Editing by Saeed Azhar) ((Reuters Messaging: maqsood.alam.thomsonreuters.com@reuters.net))
