Damac handed over 4,100 homes in 2018 and its best total to date

Dubai: Damac Properties handed over more than 4,100 homes during 2018 and the highest annual tally it has reached since inception.

Many of these were within its Damac Hills community, and there were also those at the Damac Towers by Paramount Hotels & Resorts Dubai.

Hussain Sajwani, Chairman, said: “In 2018, we maintained our pace of completion, even as the market continues to correct itself, remaining committed to our customers and to our mission of delivering dream homes and unique living concepts.”

The developer had revenues of Dh6.1 billion, while net profits came in at Dh1.15 billion. Booked sales for the same period were reported at Dh4.3 billion. During the same financial period reported, more than Dh6 billion worth of contracts were awarded for the Akoya Oxygen community. This marks “further diversification of Damac’s role as a residential master-developer towards its associated community building and management”, the company said in a statement.