Dubai saw $35 billion worth of property market transactions in 2021, the highest recorded since the global financial crisis.
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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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The company reported a loss of Dh280.5m for the three months ending June 30
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Damac Properties slipped to a loss in Q1 2020 despite higher revenue.
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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.
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