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FINANCIAL NEWS
Dubai’s Emaar reports flat revenue in 2012
18 Mar 2013
(MENAFN) Dubai developer Emaar Properties reported an increase in annual revenue in 2012 from sale of apartments, offsetting a slump in sales of commercial units, Reuters reported.
Total 2012 revenue was almost unchanged at USD2.23 billion, compared to USD2.2 billion in the previous year.
The company said sales revenue from condominiums hit USD680.64 million last year, up from USD299.4 million achieved in 2011.
Revenue from villa sales in 2012 dropped slightly to USD255 million, compared to USD260.9 million in 2011, the company added.
On the other hand, sales from commercial units, plots and others, generated USD185.7 million revenue last year, a sharp fall from USD734.89 million in the previous year, Emaar said.
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