UPDATE 1-Dubai's Emaar Properties profit rises 7 pct

May 3, 2015 11:33 AM

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DUBAI, May 3 (Reuters) - Dubai's Emaar Properties, builder of the world's tallest tower, reported a 7 percent increase in first-quarter net profit on Sunday, extending a run of profits as it sold $672 million in property in its home market and mall revenue rose.

The developer, in which Dubai's government owns a minority stake, made a net profit of 1.03 billion dirhams ($280.4 million) in the three months to March 31, Emaar said in a statement.

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