{"id":24222,"date":"2016-08-28T22:15:35","date_gmt":"2016-08-28T15:15:35","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=24222"},"modified":"2016-08-28T20:24:13","modified_gmt":"2016-08-28T13:24:13","slug":"damac-chairman-says-2016-profit-in-line-with-last-year","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-chairman-says-2016-profit-in-line-with-last-year\/","title":{"rendered":"Damac chairman says 2016 profit in line with last year"},"content":{"rendered":"


\nHussain Sajwani, the chairman of the Dubai developer Damac, said the company’s profit for this year was likely to be in line with the Dh4.5 billion it achieved last year.In an interview with the Arabic newspaper Al Khaleej, Mr Sajwani also said that the company had achieved about Dh7.88bn of sales to date at its 55-million-square foot master planned community Akoya Oxygen off Al Qudra Road in Dubai, which contains a Trump International Golf Club and a Tiger Woods-designed course. He also warned that the lengthy payment plans being offered by many of Damac’s competitors in the city could lead to the type of speculation that had previously led to asset price bubbles in the Dubai marketA spokesman for Damac told The National that there were some organisations that have extended payment plans for 10 to 12 years.”Our view is that is not necessarily the right thing for the industry,” he said, as it allows people to sign up for new homes without having to put down much up front.He said its typical payment plans run from 12 months to five years, which was a more sustainable business model.Damac declared a profit of Dh1.9bn for the first half of this year earlier this month, and the spokesman said that the company expected its full-year pro\u00adfit to be “there or thereabouts” the Dh4.5bn figure achieved last year. He said that second-half profit was likely to be higher because the first six months contained the quieter Ramadan period, and that it has historically experienced stronger sales during the latter part of the year.mfahy@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Damac chairman says 2016 profit in line with last year<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Hussain Sajwani, the chairman of the Dubai developer Damac, said the company’s profit for this...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-24222","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6iG","jetpack-related-posts":[{"id":7006,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-plans-15-per-cent-cash-dividend-payout-for-second-half-of-year\/","url_meta":{"origin":24222,"position":0},"title":"Damac plans 15 per cent cash dividend payout for second half of year","date":"March 7, 2016","format":false,"excerpt":"\r \r The Dubai-based developer Damac Properties proposes to pay a 15 per cent cash dividend for the second half of last year, bringing the total to 25 per cent for the year. The company is recommending that shareholders approve the 15 per cent dividend payment at its forthcoming annual\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33440,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-property-market-remains-challenging-says-damac-chairman\/","url_meta":{"origin":24222,"position":1},"title":"Dubai property market remains 'challenging', says Damac chairman","date":"November 7, 2016","format":false,"excerpt":"\r 2016 will be remembered as year of market turmoil, macroeconomic pressures says Damac chairman Hussain Sajwani\r \r Source : arabianbusiness.com\r Read more...Dubai property market remains 'challenging', says Damac chairman","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12192,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-properties-first-quarter-net-profit-drops-15-per-cent\/","url_meta":{"origin":24222,"position":2},"title":"Damac Properties first-quarter net profit drops 15 per cent","date":"May 9, 2016","format":false,"excerpt":"\r Dubai-based developer Damac Properties reported a 42 per cent decline in year-on-year sales for the first quarter of 2016 of Dh1.62 billion compared with Dh2.8bn a year earlier.Net profit also dropped by 15 per cent to Dh1.05bn.The amount of new sales booked during the quarter were Dh2bn - a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4414,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-damac-properties-q4-net-profit-falls-12\/","url_meta":{"origin":24222,"position":3},"title":"Dubai's Damac Properties Q4 net profit falls 12%","date":"February 11, 2016","format":false,"excerpt":"\r Chairman Hussain Sajwani said he expects the property market in Dubai in 2016 to \"demonstrate its resilience against the background of the challenging economic environment\"\r \r Source : arabianbusiness.com\r Read more...Dubai's Damac Properties Q4 net profit falls 12%","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22927,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-property-market-remains-solid-says-damac-chairman\/","url_meta":{"origin":24222,"position":4},"title":"Dubai property market 'remains solid', says Damac chairman","date":"August 14, 2016","format":false,"excerpt":"\r Hussain Sajwani said he expects the property developer \u201cto end 2016 in a more positive position\u201d\r \r Source : arabianbusiness.com\r Read more...Dubai property market 'remains solid', says Damac chairman","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":60080,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-property-will-face-more-mild-price-cycles-says-damac-chairman\/","url_meta":{"origin":24222,"position":5},"title":"Dubai property will face more 'mild price cycles', says Damac chairman","date":"July 6, 2017","format":false,"excerpt":"\r Real estate market is stable and will never crash, says Hussain Sajwani\r \r Source : arabianbusiness.com\r Read more...Dubai property will face more 'mild price cycles', says Damac chairman","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24222"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=24222"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24222\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=24222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=24222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=24222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}