DUBAI, United Arab Emirates – The owner of the Middle East's largest mall says profits and revenues were up last year from the year before, with profits reaching $368 million and revenues at $737 million.
Emaar Malls Group, which owns The Dubai Mall, says profits were 23 percent higher and revenues 13 percent higher last year than in 2013.
The Dubai Mall accounted for about 82 percent, or $606 million, of EMG's total revenues last year. The mall draws tourists from around the world with various activities, including ice skating and aquarium diving. Total tenant sales reached $4.3 billion in 2014.
EMG spun off from Emaar Properties in a $1.6 billion initial public offering last year, though Emaar Properties still owns a majority stake.