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FINANCIAL NEWS
Dubai’s DAMAC records USD 0.28bn net profit in Q1
10 May 2016
(MENAFN) DAMAC Properties Dubai Co. posted revenues of USD 0.4bn in Q1 of this year, while gross profit reached 61 percent.
Moreover, during the reporting period, booked sales reached USD 0.54bn, and 5 percent increase from the lows of Q3 2015.
Accordingly, Dubai is ready for continued growth, and it is expected that the city will outperform more established metropolitan centers around the world.
The firm brought new products to market with the introduction of Aykon City, a four-million-square-foot development contained of six towers.
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