Dubai’s booming tourist industry is feeling the impact of the conflict between in Israel and Hamas — and the fallout could be bigger than first thought.
Despite reporting its biggest annual profit on Thursday, Emaar Properties PJSC posted a 33% drop in fourth-quarter revenue from its hospitality division. At 900 million dirhams ($245 million), its hotels, leisure and entertainment venues contributed around 11% to the developer’s top line during the period.
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