Dubai developer DAMAC to focus on Gulf as Q3 profit jumps
 

12-11-14 02:36 PM

Dubai-based property developer DAMAC will limit new projects to the Gulf due to turmoil in other parts of the Middle East, the firm said on Wednesday after it reported a 166 percent jump in third-quarter net profit. Dubai house prices fell by more than half from a 2008 peak due to oversupply and the emirate's debt crisis, but have rallied to roughly pre-crisis levels over the past two years. The ...

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