Dubai developers are rolling out their scale models for the city's latest grandiose property projects despite continued falls in real estate prices.

Emaar Properties begin selling shares in its retail division, aiming to raise USD1.58bn in the emirate's biggest initial public offering since a financial crisis.

Dubai's Emaar says its net profit soared 55% in the first quarter on a yearly basis due to surging real estate sales and rising retail revenues.

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