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Damac’s Sales Halve, Losses Widen in Q1

Damac’s Sales Halve, Losses Widen in Q1

Dubai-based developer Damac Properties’ revenues dropped almost 48% to ~AED 642.2 ($174.8mn) from AED 1.23bn ($334.9mn) while the gross profit was down ~55% to AED 139mn ($37.8mn) from AED 312mn ($84.9mn) last year. It reported a net Q1 loss of  AED 189.6mn...
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