Emaar doubles its revenue from Sales Transactions in 2012
18/03/2013
In 2012, Emaar Properties, the builder of the tallest tower in the world, Burj Khalifa, as well as one of the best performing property developers in the Emirate that focused both on retail and hospitality industries, has reported that it has gained higher revenue from property transactions for residential apartments in particular; for it has reached around AED 2.5 billion in that year, compared to AED1.1 billion in 2011.
However, with regards to sales transactions for the following: plots, commercial units, and others which are related to real estate market, the Emirate has experienced a total of AED 682.2 million decrease if compared to AED 2.7 billion in 2011. In addition, the company also witnessed a slight drop for villa sales in the previous year to AED937.1 million from AED 958.7 million in 2011. So, in total revenue, Emaar has gained around AED8.2 billion from AED8.1 billion in 2011.
Fortunately, regardless of some decrease in sales transactions, the company has still received the outstanding receivables of AED326.3 million from Amlak which is well-known for its being a specialized property finance provider not only in Dubai but throughout the UAE itself. Moreover, its shares in the market have also increased at least 44.5 per cent on year-to-date basis that surpassed the Emirate’s benchmark.
Now, after a few years of being in the midst of financial crisis, the Emirate’s property market has experienced a gradual recovery which has been particularly generated by the return of speculative buyers in Dubai. In other words, the latter is now witnessing a massive influx of investors who still believe that Dubai has a potential to maintain its reputation as an ‘Economic Hub' in the Middle East region.
However, with regards to sales transactions for the following: plots, commercial units, and others which are related to real estate market, the Emirate has experienced a total of AED 682.2 million decrease if compared to AED 2.7 billion in 2011. In addition, the company also witnessed a slight drop for villa sales in the previous year to AED937.1 million from AED 958.7 million in 2011. So, in total revenue, Emaar has gained around AED8.2 billion from AED8.1 billion in 2011.
Fortunately, regardless of some decrease in sales transactions, the company has still received the outstanding receivables of AED326.3 million from Amlak which is well-known for its being a specialized property finance provider not only in Dubai but throughout the UAE itself. Moreover, its shares in the market have also increased at least 44.5 per cent on year-to-date basis that surpassed the Emirate’s benchmark.
Now, after a few years of being in the midst of financial crisis, the Emirate’s property market has experienced a gradual recovery which has been particularly generated by the return of speculative buyers in Dubai. In other words, the latter is now witnessing a massive influx of investors who still believe that Dubai has a potential to maintain its reputation as an ‘Economic Hub' in the Middle East region.
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