Dubai property firm DAMAC Q4 profit plunges 47% | ZAWYA MENA Edition:
"Dubai's DAMAC Properties, the owner and operator of the only Trump-branded golf club in the Middle East, posted a nearly 47 percent drop in fourth-quarter profit, while full year profit dropped by 25 percent. The results came as Dubai, its core property market, saw lower property prices last year due to modest demand and rising supply as new developments hit the market. Damac's 2017 net profit was 2.76 billion dirhams ($751.4 million), down from 3.69 billion year earlier, it said in a statement. "
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