Reuters reported that Emaar Properties revenue from apartment's sales more than tripled in the Q3,helping Dubai's largest developer overcome a sharp decline in the sale of commercial units.
A detailed earnings statement said that revenue from sales of condominiums in the Q3 more than tripled to AED 567 million from AED 183 million in the same period in 2011.However,revenue from sale of villas dropped slightly to AED 123 million from AED 126 million a year-ago.
Income from sale of commercial properties and plot sales took a major hit,generating only AED 109 million compared with AED 798.4 million in the prior year period.
Source–Reuters
Source:
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