Dubai’s Damac developer triples profits
DUBAI luxury real estate developer Damac – which is building the Trump Estates that has interiors designed by Ivanka Trump – tripled its 2013 net profit and plans more new projects this year, it said yesterday. Damac, which listed its shares on the LSE in December, posted a net profit of $641.5m last year, against $212.5m in 2012. Revenue for the year grew 77 per cent.