Emaar Properties recorded a net profit of AED1.231 billion ($335 million) for the first-half (H1) 2013 (January to June) similar to the H1, 2012 net profit of AED1.220 billion ($332 million).

The revenue for the first six months of the year is AED5.219 billion ($1.421 billion), which is 33 percent higher than the revenue of AED3.921 billion ($1.068 billion) recorded during the same period last year.

The net profit for the second quarter of 2013 (April to June) is AED675 million ($184 million), 21 percent higher than the net profit during the first quarter (January to March) of the year at AED556 million ($151 million), and 10 percent more than the second quarter 2012 net profit of AED614 million ($167 million).

Revenue for the period from April to June 2013 is AED3.109 billion ($846 million), 47 percent higher than the first quarter 2013 revenue of AED2.110 billion ($574 million),and 48 percent more than the second quarter 2012 revenue of AED2.100 million ($572 million).

The hospitality and leisure, and shopping malls and retail businesses of Emaar recorded total revenues of AED2.326 billion ($ 633million), 45 percent of the total revenue, while the contribution of international operations to the half-year 2013 revenue was AED526 million ($143million), 10 percent of the total revenue.

Mohamed Alabbar, chairman of Emaar Properties, said: "Our significant growth in the first half of the year is a strong reflection of the positive environment that our home market of Dubai offers by serving as a global business and leisure hub. We draw on the dynamism of the city, led by the vision of Sheikh Mohammed bin Rashid Al Maktoum, UAE vice president and prime minister and ruler of Dubai, to further reiterate our world-class competencies in our three core business segments of property development, hospitality and shopping malls."

He added: "The remarkable gains made by these three core businesses also underscore Emaar’s contribution to the socioeconomic growth of Dubai by catalyzing the key economic sectors including retail, hospitality, tourism and construction. In addition to supporting Dubai’s Tourism Vision 2020 to double the number of tourists by the turn of the decade, our investments also set the pace for the city’s future growth. The projects we announced this year, including new hotel brands, the Dubai Mall’s expansion and our real estate developments will play a central role in Dubai’s future growth. We are thankful to our customers and all stakeholders for their support to our strategy to create long-term value."

The total sales value in Dubai of Emaar’s real estate developments until the end of June is AED6.3 billion ($1.7 billion), which is nearly 4 times the sales during the same period in 2012 at AED1.6 billion ($436million).

To date, Emaar has handed over approximately 36,600 units, including some 20,900 apartments and around 15,700 villas. Emaar has also completed more than 4.3 million sq ft of commercial space, of which 690,000 sq ft was in international markets.

Emaar has announced a remarkable array of real estate projects in the first-half of the year. Joining hands with Meraas Holding, Emaar launched the Dubai Hills Estate, the first phase of the Mohammed Bin Rashid City (MBR City), the region’s largest of its kind real estate development. Envisaged as the premium lifestyle community, Dubai Hills Estate will be set on prime land, spanning over 11 million sq meters (2,700 acres).