(MENAFN) UAE-based Damac Real Estate posted a 79 percent growth in net profit for the first quarter of 2014 on buoyant conditions in its Dubai home market, according to Gulf Daily News.
The company's net profit for the first quarter was estimated at USD210 million compared to USD117 million in the same quarter 2013.
Damac said that booked sales more than doubled in the first quarter to USD864 million, and it handed over 577 units to customers in the first quarter of this year.
Chief financial officer Adil Taqi said: "We're very pleased with the first quarter we've had and we're looking at a good year."
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