Dubai developer sees profits rise
Emaar Properties, Dubai's largest developer, has enjoyed a 28.6 per cent rise in net profits in the second quarter of 2014. Revenue from property sales in the emirate dropped, but the builder - behind the famous Burj Khalifa - says that it made a net profit of AED 868 million, ahead of its forecasts. The figures join news of Dubai's plans to build the world's first temperature-controlled city as an indicator of how much of a turnaround the UAE has made since the global financial crisis.