(MENAFN) Dubai's Emaar Properties, builder of the world's tallest tower, posted a 14 percent growth in fourth-quarter net profit, Arabian Business reported.
The developer, in which Dubai's government owns a minority stake, reported a net profit of USD234.5 million in the three months to December 31, Emaar said in a statement. That compares with a profit of USD205.76 million in the year-earlier period.
Quarterly revenue was USD775.7 million, up from USD751.2 million a year earlier.
With a portfolio of 12 hotels and resorts consisting of over 1,900 rooms, Emaar's hospitality and leisure business recorded 2014 revenue of USD457.5 million, 17 percent of the total revenue and 11 percent higher than 2013.
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