Emaar Malls reported a 12 per cent increase in third-quarter net profit. The National 
Emaar Malls reported a 12 per cent increase in third-quarter net profit. The National 

Emaar Malls fourth quarter net profit rises 27% on higher visitor numbers



Emaar Malls, the retail business 85 per cent owned by Emaar Properties, posted a 27 per cent increase in fourth quarter net profit, beating analyst’s expectations, as it welcomed more visitors to its malls.

Net profit in the three months ending December jumped to Dh574 million from Dh452m in the year-earlier period, the company said in a statement on Monday. Revenue rose 35 per cent to Dh1.12bn from a year earlier. The results were higher than the mean forecast of Dh490m, according to a Bloomberg poll of two analysts.

“The sustained growth of Emaar Malls highlights the robust performance of our nation’s retail sector, a key contributor to the gross domestic product,” said Mohamed Alabbar, Emaar Malls board member and chairman of Emaar Properties. “Through our focus on digital innovation and malls expansion, our assets will continue to catalyse the economy.”

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Emaar Malls is expanding physically and digitally in order to get more customers into its malls and online offerings. Last year it bought a 51 per cent stake in online fashion retailer Namshi for $151m, wrapping up its hunt to land a significant e-commerce asset after it tried to buy Souq.com last year, which was acquired by e-commerce behemoth Amazon.

The company's full year net profit rose 11 per cent to Dh2.08bn from 2016, while revenue increased 12 per cent to Dh3.62bn in the period. Dubai Mall, Emaar Malls flagship property, welcomed 80 million visitors for the fourth year in a row in 2017. Overall, visitors to Emaar Malls outlets rose 4 per cent last year to 130 million from 2016.

Gross leasable area occupancy reached 94 per cent across Emaar Malls’ assets in 2017.

On Sunday, Emaar Properties, the biggest publicly traded real estate company in the UAE, said its net profit for 2017 was $1.55 billion, without providing further details.

Emaar Malls also owns and manages Souk Al Bahar, Dubai Marina Mall and Gold & Diamond Park.

The specs: 2018 BMW R nineT Scrambler

Price, base / as tested Dh57,000

Engine 1,170cc air/oil-cooled flat twin four-stroke engine

Transmission Six-speed gearbox

Power 110hp) @ 7,750rpm

Torque 116Nm @ 6,000rpm

Fuel economy, combined 5.3L / 100km

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How to protect yourself when air quality drops

Install an air filter in your home.

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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Squid Game season two

Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

COMPANY%20PROFILE
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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
The specs
Engine: 2.0-litre 4-cyl turbo

Power: 201hp at 5,200rpm

Torque: 320Nm at 1,750-4,000rpm

Transmission: 6-speed auto

Fuel consumption: 8.7L/100km

Price: Dh133,900

On sale: now 

The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

If you go

The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at. 
Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti with Coastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.   

What is double taxation?
  • Americans living abroad file taxes with the Internal Revenue Service, which can cost hundreds of dollars to complete even though about 60 per cent do not owe taxes, according to the Taxpayer Advocate Service
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  • The double taxation policy has been a contentious issue for decades, with many overseas Americans feeling that it punishes them for pursuing opportunities abroad
  • Unlike most countries, the US follows a citizenship-based taxation system, meaning that Americans must file taxes annually, even if they do not earn any income in the US.
'Fantastic Beasts: The Secrets of Dumbledore'

Rating: 3/5

Directed by: David Yates

Starring: Mads Mikkelson, Eddie Redmayne, Ezra Miller, Jude Law