Developer makes $52mln Q1 net loss on lower revenue recognition.
Read MoreDamac Properties has posted an AED1.04 billion ($283 million) net loss for 2020 compared to AED37 million ($10 million) the year before.
Read MoreThere is a clear pattern forming with Damac at the moment that they are continuing to build residential developments, but evidently, from their results, they are not selling enough property.
Read MoreDubai developer, however, managed improved revenues in a tough operating environment
Read MoreThe company reported a loss of Dh280.5m for the three months ending June 30
Read MoreDamac Properties slipped to a loss in Q1 2020 despite higher revenue.
Read MoreDamac Properties recorded a sharp decline (46 per cent) in nine-month revenues to Dh2.8 billion from Dh5.2 billion. Net profit was down to Dh133 million from Dh1.1 billion a year ago, a drop of almost 88 per cent.
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