(MENAFN) Dubai Luxury Property Developer (DAMAC) net profit increased 18 percent in the April-June period, Arab News reported.
DAMAC"s profit reached USD253 million in the second quarter of this year, while revenue signaled another increase, hitting USD556 million a rise of 37 percent.
The January-June period also showed an increase in their booked sales, rising 75 percent to USD1.68 billion.
Meanwhile, Emaar Properties, DAMAC largest rival, posted a small decrease in their property sales during the second quarter of 2014.
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