Dubai’s Emaar revenue down 17 percent in Q1

15 May 2014

(MENAFN) Dubai’s Emaar Properties posted 17 percent drop its villa-sales revenue in the first three months of the current year, according to Arabian Business.

Emaar, the builder of the world’s tallest tower, reported USD69.94 million total revenue for the quarter compared to USD84.04 million in the same quarter 2013.

However, the decline was partly offset by an increase in revenue from its hospitality and rental portfolio.

The company’s revenue from sales of apartment blocks, commercial units and land increased 2.9 percent year-on-year to USD177.74 million.

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