Damac triples full-2013 net income

March 5, 2014 12:10 pm

Dubai-based developer, Damac Real Estate Development has said full-2013 profit has tripled, as sales climbed and margins widened, Bloomberg has reported. Net income rose to $641.5m from $212.5m a year earlier, while revenue surged 77% to $1.22bn. Bookings jumped to $2.46bn from $661m a year earlier, said Damac.