Emaar Properties , Dubai's largest developer by market value, saw an 85 percent fall in its income from apartment sales during the second quarter, as demand for real estate continues to fall in the emirate.
Revenues from sale of apartments were 265.6 million dirhams ($72.3 million)in the second quarter, compared with 1.7 billion dirhams in the same period in 2010, Emaar said in a detailed financial statement posted on the Dubai bourse on Sunday.
The builder of the world's largest tower, the Burj Khalifa, reported a 69 percent drop in second quarter net profit last month.
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