Dubai’s Damac Properties profit slips
Dubai’s DAMAC Properties reported a 11.7 percent fall in third-quarter net profit as revenue slipped.
The developer reported a net profit of 902.0 million dirhams ($245.6 million) for the three months ended Sept. 30, according to a statement to Dubai’s bourse.
DAMAC’s third-quarter revenue was 1.75 billion dirhams. This compares with 2.02 billion dirhams a year earlier.