Dubai – Mubasher: Damac Properties is expected to achieve sales worth AED 7 billion in 2017, with its profits likely to reach AED 3.7 billion, Al Ittihad newspaper quoted chairman Hussain Sajwani.
The real estate developer has a high level of liquidity, which amounted to AED 9 billion by the end of 2016, Sajwani added.
Net profits reached AED 3.69 billion in 2016, down 18.2% year-on-year.
The real estate developer will focus on the real estate market in the UAE and GCC region in the coming period, Sajwani noted.
