Dubai's Damac to confirm 2015 financials this week

The developer will also discuss a strategy for the upcoming year at a board meeting scheduled to be held on 10 February

Damac will confirm its 2015 financials on 10 February, 2016. [Representational image]
Damac will confirm its 2015 financials on 10 February, 2016. [Representational image]

Dubai's Damac Properties will approve its 2015 financial results this week. 

The company will hold a board meeting on 10 February, 2016, to confirm these figures. 

The developer is also set to discuss and approve its business plan for the upcoming year at the meeting, according to Gulf News

In the three months to 30 September, 2015, Damac reported a net profit attributable to shareholders worth $277.7m (AED1.02bn), up from $192.3m (AED706.4m) a year earlier. 

Damac’s third-quarter revenue of $549.9m (AED2.02bn) included land sales worth $133.8m (AED491.6m). 

The property developer announced earlier this month that it will launch up to three hotels around Dubai this year. 

The company will open Damac Maison Upper Crest around Burj Khalifa, which will provide 350 keys, Damac Maison The Distinction with 300 keys, and Naya Tenora in Dubai south city, with 250 keys.

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