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Emaar Development records Dh2b plus profit in Dubai

Dubai views

Its sales backlog now stands at Dh36b, boosted by a further 19 launches this year Dubai: Emaar Development recorded slight dips in nine-month net profit and revenues — at Dh2.07 billion and Dh9.62 billion — from a year ago. The corresponding numbers for 2018 were Dh2.5 billion and Dh10 billion. In the third quarter, net…

Dubai announces 10 ‘ethical’ principles for real estate companies

Dubai Skyscrapers surround the Old Town Island residential area

Dubai’s Real Estate Regulatory Agency (RERA) announced 10 core ethics, real estate companies must follow while operating in Dubai. The list of principles released by RERA, part of Dubai Land Department (DLD), will help maintain Dubai’s status as a global investment haven, a statement said. The real estate principles include: – Trust: Real estate companies must…

Damac sees drastic profit, revenue fall

Net profit is at Dh133m for first nine months against Dh1.1b a year ago Dubai: Damac Properties recorded a sharp decline (46 per cent) in nine-month revenues to Dh2.8 billion from Dh5.2 billion. Net profit was down to Dh133 million from Dh1.1 billion a year ago, a drop of almost 88 per cent. Booked sales…