Text size:

  • Small
  • Normal
  • Large

Emaar's first-quarter revenue from villa sales doubles

Emaar Properties, the developer of the world's tallest tower in Dubai, said first-quarter revenue from villa sales doubled from a year earlier.

Emaar Properties, the developer of the world's tallest tower in Dubai, said first-quarter revenue from villa sales doubled from a year earlier.

Revenue climbed to Dh308.7 million in the three months ended March 31 from Dh154m a year earlier, according to Emaar's financial statement posted on Dubai's stock market on Thursday. Income from the sale of apartments, land and commercial units rose to Dh634.7m from Dh612m, while rental income increased to Dh749.2m from Dh651.8.

Emaar, Dubai's biggest developer by market value, said on April 30 that first-quarter earnings dropped 8 per cent to Dh556m, in line with analyst estimates as rising costs wiped out a 16 per cent increase in revenue. Trade receivables fell to Dh728.4m at the end of March from Dh958.6m at the end of last year, the company said.

The developer said during 2012 it received full settlement of outstanding receivables of Dh326.3m overdue from Amlak Finance, the mortgage lender being reorganized by the United Arab Emirates' government. Emaar issued debit notes, carrying non-settlement charges on the outstanding amounts, it said.


* Bloomberg News

Back to the top

More articles

Editor's Picks

 The Greens, villas: Q1 no change. 3BR - Dh210-250,000. 4BR - Dh210-260,000. 5BR - Dh220-300,000. Q1 2013-Q1 2014 5% rise. Pawan Singh / The National

In pictures: Where Dubai rents have risen and fallen, Q1 2014

Find out how rental prices in the prime locations in Dubai have altered during the first three months of the year and the current rates you will pay according to data provided by Asteco.

 Above, the private pool of Ocean Heights' five-bedroom penthouse flat. Courtesy Christie’s International Real Estate

In pictures: Penthouse flat is height of Dubai luxury living

A five-bedroom penthouse in Ocean Heights in Dubai Marina is on sale for Dh25 million and comes with a private pool and an unparalleled view of Dubai.

 The cooling towers of the Temelin nuclear power plant near the Tyn nad Vltavou in Czech Republic. The country wants to continue expanding nuclear energy capacity despite cancelling a tender to build two new units. David W Cerny / Reuters

In pictures: Best business images for the week to April 17, 2014

Here are some of the best business images for the week to April 17, 2014.

 Three generations of the Hakimi family tend to their stall Crawford Market in Mumbai. Subhash Sharma for The National

In pictures: Shopper’s delight at Crawford Market in Mumbai

Crawford Market is an old British-style covered market dealing in just about every kind of fresh food and domestic animal imaginable. Later on renamed Mahatma Jotirao Phule, the market remains popular among locals and visitors by its old name, taken from Arthur Crawford who was the first municipal commissioner of the city.

 The Wind, Energy, Technology and Environment Exhibition takes place from April 14 to April 16. Above, the Dewa showroom during last year’s Wetex. Jaime Puebla / The National

April corporate and economic calendar for the UAE and overseas

From Cityscape to Wetex to stock-market holidays to nations reporting first-quarter GDP figures, here is our helpful calendar of April's business events in the UAE and internationally.

 Get the latest information on credit cards, bank accounts and loan products in the UAE. Mark Lennihan / AP Photo

Rates report: Latest on UAE loans, accounts and credit cards

Souqamal.com brings you the latest interest rates on banking products in the UAE.


To add your event to The National listings, click here

Get the most from The National