What: Emaar Malls, which operates properties including The Dubai Mall, saw revenue rise 74% in the second quarter.

Why it is important: Sales across Emaar Malls’ tenants were up 15% in the second quarter, compared to the same period in 2019, prior to the pandemic. The increase in sales during the first half of this year was driven by an increase in average spending per visitor, which rose 59% from the same period in 2019, the company said.

Emaar Malls, a unit of Dubai’s largest listed developer, Emaar Properties, swung to a profit in the second quarter after posting a loss in the same period a year ago as revenue surged 74% year-on-year.

Dubai’s Emaar Malls Swings to Profit in Q2