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DAMAC Properties announces financial results for Q1 2018

May 16, 2018 - Marketline Newswire

DAMAC Properties has announced financial results for the first quarter of 2018, reporting total revenue of AED 1.9 billion, with booked sales reported at AED 1.6 billion, largely in line with AED 1.5 billion recorded in Q4 2017.

By the end of the quarter, DAMAC delivered 648 units at its DAMAC Heights tower, in Dubai Marina, while gross profits stood at AED 761 million reflecting profit margins of 40%. Net profit stood at AED 484 million in Q1 2018, marginally higher than AED 459 million r...