Emaar Malls' profits and revenues increased during 2017 as occupancy in its shopping centres averaged 94 per cent for the year.

The Dubai-based mall operator made a net profit of AED2.080bn ($566m) in 2017, 11 per cent higher than the net profit of AED1.874bn during 2016.

Revenue for 2017 was AED3.629bn, up 12 per cent on the 2016 revenue of AED3.227bn.

In the fourth quarter of 2017, Emaar Malls recorded a net profit of AED574m, 18 per cent higher than the net profit of AED485m for the third quarter of 2017, and 27 per cent higher than fourth quarter 2016 net profit of AED452m.

Revenue for the fourth quarter of 2017 was AED1.129bn, 29 per cent higher than the third quarter 2017 revenue of AED876m, and 35 per cent higher than the fourth quarter 2016 revenue of AED835m.

Gross leasable area occupancy levels across Emaar Malls assets averaged 94 per cent during 2017. Together, the malls and retail centres of Emaar Malls welcomed 130 million visitors in 2017, 4 per cent higher than the 125 million during 2016.