Dubai – Mubasher: Damac Properties on Thursday reported a net profit of AED 1.15 billion for the full-year ended December 2018, 58.28% down from AED 2.759 million in 2017.

The company’s total assets amounted to AED 25.17 billion last year, versus AED 25.34 billion a year earlier, according to a statement.

Shareholders’ equity reached AED 14.1 billion during the 12-month period ended last December, up from AED 13.36 billion in 2017, the Dubai-based property developer said.

Moreover, the company’s revenue stood at AED 6.1 billion at the end of December 2018.

In the same vein, Damac has delivered over 4,100 units last year. The units were handed over across its flagship projects, including Damac Towers by Paramount Hotels & Resorts Dubai, Damac Heights, Damac Majestine, Avanti Tower, and Damac Hills.

Damac, listed on the Dubai Financial Market (DFM), previously posted a 53% year-on-year decline in net profits for the first nine months of 2018, recording AED 1.092 billion in profits, versus AED 2.304 billion.