UAE developer announces 44-storey Canal Heights tower with underwater pearl museum
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Damac Bay residents will have access to a white-sanded private beach, a range of food and beverage outlets and the property’s exclusive Cavalli Lounge. In addition, the three-tower property has been built to provide each unit with a beautiful seaside view
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The latest addition to the Mediterranean-inspired community comes after the successful launch of six clusters: Portofino, Venice, Malta, Nice, Santorini, and Costa Brava.
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Dubai saw $35 billion worth of property market transactions in 2021, the highest recorded since the global financial crisis.
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Located adjacent to the Damac Hills community, the theme of the project will be eight different cities spread across the community
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Dubai property prices are rising for the first time in six years, Morgan Stanley said in a research note.
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Developer makes $52mln Q1 net loss on lower revenue recognition.
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Damac Properties has posted an AED1.04 billion ($283 million) net loss for 2020 compared to AED37 million ($10 million) the year before.
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The 18-hole course designed by Tiger Woods is reportedly facing another delay
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There is a clear pattern forming with Damac at the moment that they are continuing to build residential developments, but evidently, from their results, they are not selling enough property.
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Dubai developer, however, managed improved revenues in a tough operating environment
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DAMAC has reported losses of 931.3 million dirhams ($253.57 million) for the first nine months of the year.
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