Dubai’s Damac logs USD762m sales in Q1

31 Mar 2015

(MENAFN) Damac Properties, the Dubai-based developer, recorded USD762 million in the first three months of the current year, showing increasing figures year-on-year, Arabian Business reported.

This year’s turnaround is due to sturdy demands from overseas buyers, according to Damac’s managing director. The company chose not to disclose the actual figures for the corresponding period in 2014.

“Q4 is usually our strongest quarter, so to be able to do more in Q1 gives us a good boost for the rest of the year. Over the past year there have been a number of new projects launched,” the firm’s managing director said.

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