Emaar Properties' revenue from sale of apartments more than doubled last year, offseting a sharp drop in sales of commercial units that is struggling to recover three years after the emirate's property market collapse.
The builder of the world's tallest tower generated a revenue of 2.5 billion dirhams ($680.64 million) from sales of condominiums last year, compared with 1.1 billion dirhams in 2011, a detailed earnings statement released on Monday showed.
However, income from sale of commercial units, plots and others dropped significantly to 682.2 million dirhams compared with 2.7 billion dirhams in the prior-year.
Read more: http://www.arabianbusiness.com/emaar-s-2012-apartment-sales-doubled-in-2012-493529.html
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