Emaar Properties noted an 85 per cent dip last year in revenue from apartment sales and a simultaneous 85 per cent rise in villa sales. This information was disclosed in the company’s annual financial statement yesterday.
The complete results posted on Dubai's stock market yesterday reveal that income from apartment sales fell to Dh1.11 billion in 2011 compared to Dh7. 56 billion in 2010. Villa sales rose from Dh517.3 million to Dh958.7 million in the same period.
Analysts claim that villas are now in greater demand than apartments in Dubai's residential market.
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