Emaar reported earnings that were better than expected yesterday as the developer of the world’s tallest tower profited from its mall and hotel businesses. That positive momentum is likely to continue this quarter as the region’s largest property company begins to book handover payments on the Burj Khalifa and its surrounding downtown development of flats, hotels and shops.

Revenues from the firm’s foreign ventures will start to come through this year, with delivery of projects in India, Egypt and Saudi Arabia.

Emaar posted a fourth-quarter net profit of Dh720m (US$196m), up from a net loss of Dh2.43bn for the same period in 2008

The National