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Real Estate Briefing - Categorized | Developers, Performance more

Middle East’s biggest property developer posts $350mln second quarter loss

Posted on 31 July 2009

From AFP: Property giant Emaar posted a second-quarter net loss of 1.3 billion dirhams (350 million dollars) as a slowdown in the American real estate market forced it to write off the entire value of its US unit John Laing Homes.

Emaar, partly owned by the Dubai government, swung into loss from a profit of 2.1 billion dirhams (572 million dollars) in the same period last year, it said in a press release on its website……….Full Article: Source


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