Damac's 9-month net profits soar to Dh3.67b | GulfNews.com:
"The DFM-listed Damac Properties Dubai has confirmed net profits of Dh3.67 billion for the first nine months of the year and a gain of 43 per cent over the same period in 2014.
Revenues weighed in at Dh6.77 billion and helped along by a steady stream of new project releases the developer had through the year, most notably at its ‘Akoya’ projects.
The numbers also confirm what has been a fruitful third quarter for the listed real estate majors in Dubai and Abu Dhabi as well as for privately held Nakheel. The big names have all seen solid gains on the profitability. What has been interesting about them is that these have been delivered against the backdrop of a general softness in property buying activity in Dubai."
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