Emaar Quarterly Apartment Revenue Doubles Amid Dubai Recovery
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Emaar Properties PJSC said second-quarter revenue from apartment and land sales doubled as the developer of the world’s tallest tower in Dubai benefits from a property market recovery in the Persian Gulf business hub.
Revenue from the sale of condominiums, commercial units and plots of land climbed to 1.63 billion dirhams ($443 million) in the three months ended June 30 from 815.6 million dirhams a year earlier, according to Emaar’s financial statement posted on Dubai’s stock market today. Income from villa sales dropped to 322.3 million dirhams from 325.7 million dirhams.