Dubai – Mubasher: Damac Properties has reported a net profit of AED 862 million in the first six months of 2018.

The company’s revenue increased by 5% year-on-year to AED 3.7 billion in H1-18, according to a company statement.

Earnings per share (EPS) hit AED 0.14, while delivered units reached 1,490 in the six-month period ended 30 June, the Dubai-listed developer’s data showed.

“As we go into the second part of the year, we thank our customers, shareholders, employees, and partners for their support and commitment,” Damac’s chairman Hussain Sajwani commented.

Damac’s booked sales registered AED 2.3 billion from January to the end of June.

“Over the last couple of years, delivery of several landmark DAMAC developments has been of paramount importance for DAMAC,” Sajwani said.