Emaar Properties triples its Q3 revenue
20/11/2012
In the previous quarter of the year, Emaar Properties, a builder of the currently-tallest tower in the world, Burj Khalifa which is primarily located in Downtown Dubai, has experienced a massive revenue income from sales transactions for its residential apartments regardless of the sharp decline in sale for its commercial units from AED798.4 million to AED109 million.
Based on the report, the company's revenue for Q3 from sales of apartments has almost tripled to AED567 million from AED183 million in the same period last year. However, on the other hand, its revenue from sales transactions for villa properties have dropped but only at the slower pace from AED126 million in 2011 to AED123 million in the current year.
As a matter of fact, being one of the hardly-affected companies by economic downturn that started in mid-2008, Emaar Properties has gradually and financially revived. In addition, it has been considered as one of the best performers among the property development and management companies in Dubai since then. However, the time came that it also experienced a total of 4.7 per cent decline in revenue during the previous month itself.
Nevertheless, the company is still determined to totally recover from financial issues; for it has been doing some initiatives so as to increase its quarterly revenues. Indeed, it has already launched at least three new property projects within this year 2012, in which its residential properties will generate a strong interest.
Based on the report, the company's revenue for Q3 from sales of apartments has almost tripled to AED567 million from AED183 million in the same period last year. However, on the other hand, its revenue from sales transactions for villa properties have dropped but only at the slower pace from AED126 million in 2011 to AED123 million in the current year.
As a matter of fact, being one of the hardly-affected companies by economic downturn that started in mid-2008, Emaar Properties has gradually and financially revived. In addition, it has been considered as one of the best performers among the property development and management companies in Dubai since then. However, the time came that it also experienced a total of 4.7 per cent decline in revenue during the previous month itself.
Nevertheless, the company is still determined to totally recover from financial issues; for it has been doing some initiatives so as to increase its quarterly revenues. Indeed, it has already launched at least three new property projects within this year 2012, in which its residential properties will generate a strong interest.
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