News Column

Emaar rated "Overweight" by Al Jazira Capital

February 18, 2014

Al Jazira Capital issued a report on Emaar Properties, stating that the

developer's Q4-13 financial statements showed a deviation of 11.2% from

estimates of AED 680 million. Al Jazira reiterated an "Overweight" rating

on the stock, maintaining a 12-month fair value at AED 10.8. It is worth

noting that the UAE-based developer posted a net income of AED 2.57

billion for FY13.

Al Jazira attributed the annual growth for Q4-13

to the favorable reception for its real estate projects and higher hotel


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Source: Mubasher (Saudi Arabic)

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