More than 35 million people visited Emaar Malls in Q1 2018, a 3 percent increase over the same period last year, the company announced on Sunday.
Of the visitors, 60 percent – 21 million – were at Dubai Mall, the flagship of Emaar Malls and the world’s most visited retail destination, which in 2017 welcomed approximately 80 million visitors.
Overall, Emaar Malls properties – including Dubai Mall, Dubai Marina Mall, Souk Al Bahar, Gold and Diamond Park and a number of community shopping centres – recorded occupancy levels of 95 percent throughout the quarter.
The announcement came on the same day as the company announced a net profit of AED 548 million ($149 million) in Q1 2018, slightly above the AED 539 million ($147 million) recorded in Q1 of the previous year.
Revenue for the first three months of 201 was AED 1.038 billion ($283 million), 24 percent more than Q1 2017’s revenue of AED 836 million ($228 million), due to the consolidation of Namshi revenue in 2018.
At its third annual general meeting held in April, Emaar Malls approved a cash dividend of AED 1.301 billion ($354 million), about 10 percent of share capital, for the third consecutive year.
“We have been shaping the retail sector of Dubai by building world-class retail and leisure destinations as well as ensuring that they offer retail choices that meet the aspirations of today’s tech-savvy youth,” said Emaar Malls board member and Emaar Properties chairman Mohamed Alabbar.
“We will continue to implement innovative approaches that bring back the charm of retail as a family activity, with a focus on delighting our customers, bringing digital innovation and driving deep customer personalisation and efficiency.”
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