(MENAFN) Dubai-based Damac Properties recorded sales reaching USD764 million in the first quarter of the year due to sturdy demands for luxury housing, the company said, Arabian Business reported.
The company's results for the quarter consisted of a posted net profit of about USD215.8 million, in addition to a recorded revenue estimated at USD489.95 million, according to a corporate statement.
"The first quarter of the year has seen the company build on its strong performance and results achieved for the full year 2014." The chairman of Damac said in a statement.
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