DUBAI Feb 17 Emaar Properties,
Dubai's largest real estate developer, reported a 48 percent
jump in fourth-quarter net profit on Monday, beating analysts'
estimates, as it benefited from a renewed real estate and
tourism boom in the emirate.
The builder of the world's tallest tower posted a quarterly
profit of 756 million dirhams ($206 million), compared with 512
million dirhams in the corresponding period of 2012, the company
said in a statement on Dubai's bourse.
Analysts in a Reuters poll had predicted on average a net
profit of 622 million dirhams.
The developer, which launched several new projects last
year, said its total value of sales in Dubai for 2013 was 12
billion dirhams, nearly three times the amount in 2012.
($1 = 3.6730 UAE dirhams)
(Reporting by Praveen Menon; Editing by Andrew Torchia)