Dubai Tourism

Damac’s Q1 profit up 79%
on Dubai’s realty rebound

News   •   May 14, 2014 09:59 GMT

KHALEEJTIMES.COM: Leading Dubai developer Damac Real Estate has seen its first-quarter profit surge 79 per cent in a year, with business buoyed by the rebound in the city’s residential sector, the company said on Tuesday.Its figures showed net profits increasing from $117 million in the first quarter of 2013 to $210 million this year.