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Revenue gains take Damac to Dh3.7b in H1-18


Damac Properties recorded an improvement in revenues in the first six months, at Dh3.7 billion against the Dh3.5 billion in the first half of 2017. But there was a sharp decline in net profit to Dh862 million from first-half last year’s Dh1.6 billion. Gross profit for the first half of 2018 was Dh1.4 billion. The…

Damac showcases luxury properties in Beijing


Damac Properties is presenting five of its flagship properties at the ongoing Luxury Property Show Beijing. The developer is showcasing the Golf and Greens apartments at Damac Hills and the Damac Residenze on Palm Jumeirah, both available now, the Maison Prive and Damac Towers, due for delivery this year, and Aykon City, due for delivery…

Damac Towers by Paramount nearing completion


Damac Towers by Paramount nearing completion Damac Properties, a leading luxury property developer, said its four-tower master development Damac Towers by Paramount, is nearing completion, after logging a record 25 million safe worker hours, eight times more than the industry average of 3 million hours. The record marks almost 2,000 days of incident-free work, a…

Damac targets to operate 15,000 hotel rooms by 2021


Damac targets to operate 15,000 hotel rooms by 2021 Damac Hotels & Resorts, the hospitality arm of Damac, is looking to boost its current portfolio of around 1,700 hotel units over the next 3 years, with the aim of delivering 15,000 units by 2021. Speaking at the Arabian Travel Market, Damac chairman Hussain Sajwani said:…