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FINANCIAL NEWS
Dubai’s Emaar reports USD265.6m H1 apartment sales’ revenue
14 Aug 2012
(MENAFN) Emaar Properties, the Dubai real estate developer, announced that its first-half revenue from apartment sales grew to USD265.57 million, from last year’s USD174.37 million, reported Arabian Business.
The company behind the world’s tallest tower, the Burj Khalifa, said that revenue from apartment sales during the second quarter surged to USD190.4 million, compared with USD72.30 million in 2011’s same period.
The rise in revenue from apartment sales managed to offset weak revenue from sales of commercial units and plots, which fell to USD31.63 million, compared with USD162.39 million.
Furthermore, revenue generated from villa sales during the second quarter reached USD88.64 million, representing a decline of 3 percent from the same period a year ago.
It is worth noting that Emaar’s total revenue in the second quarter reached USD571 million, up from USD544 million in 2011’s same period.
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