Dubai: Damac Properties said on Sunday it registered a 27 per cent drop in first half net profit to be at Dh1.94 billion.
Revenues fell Dh3.37 billion in the first six months of 2016, from Dh4.71 billion in the same period last year.
Total assets increased to Dh23.51 billion at June 30, compared to Dh23.45 billion on Dec 31, 2015, the company said in a statement posted on Dubai Financial Market’s website.
“The Dubai market remains solid. The levels of interest in our new product launches and existing portfolio are healthy,” Hussain Sajwani, Chairman of Damac Properties said in a statement.
