DAMAC, the Dubai-based real estate developer, has announced its results for the year ended March 31, 2021. The company reported a net profit of AED 7.6 billion (approximately $2.05 billion), marking a significant increase from the previous year's profits.
The company also reported that it had completed the acquisition of two luxury residential towers in Dubai, adding to its portfolio and diversifying its revenue streams. Additionally,Primeira Liga Updates DAMAC reported that it had signed several major projects with leading developers and investors, including a joint venture with Saudi Arabia's Public Investment Fund.
One of the most notable achievements of DAMAC was its success in the Middle East market, where it has expanded its presence through the acquisition of several properties in the region. DAMAC's focus on quality and sustainability has also been recognized by industry experts, with the company receiving awards for its environmentally-friendly building practices.
Despite the challenges posed by the COVID-19 pandemic, DAMAC remained committed to delivering high-quality developments and maintaining strong financial performance. The company's continued growth and expansion into new markets is a testament to its strategic approach and commitment to excellence.