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UAE’s Damac net profit jumps 43 percent in Jan-Sept

10 Nov 2015

(MENAFN) Dubai-based Damac Properties has registered a 43 percent climb in gross profits through the first nine months from last year’s same period, hitting USD979.8 million.

Additionally, Incomes totaled to a whopping USD1.8 billion supported by a stable stream of new project releases the developer had during the year, most notably at its ‘Akoya’ projects.

Moreover, the positive figures confirm what has been a productive third quarter for the listed real estate big names in Dubai and Abu Dhabi as well as for privately held Nakheel.

“We have developed a market leading brand firmly positioned in the luxury sector and we believe this is a powerful differentiator from our competitors,” said the Chairman of Damac.

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