DAMAC, the leading real estate developer in the Middle East and North Africa (MENA), has announced its latest financial results for the year ended December 31, 2020.
The company reported net profit of $478 million, up from $355 million in the previous year. This represents a growth rate of 26% over the past year. The revenue for the year was $9.8 billion, which is a 10% increase from the previous year.
In terms of HAMDA's contribution to DAMAC, the company reported that it contributed $1.4 billion to the total revenue of DAMAC. This is a significant amount, especially considering that HAMDA is one of the largest investors in DAMAC.
HAMDA's goal statistics at DAMAC have been impressive, with the company reporting that it invested $2.1 billion in the development projects of DAMAC. This investment has led to the completion of several high-end residential and commercial developments, including DAMAC Qasr Al Rayyan, DAMAC Qasr Al Watan, and DAMAC Qasr Al Nour.
Hamda also reported that it had completed several construction projects for DAMAC, including the construction of the DAMAC City Phase II project, which is currently under construction.
Overall, the performance of HAMDA at DAMAC has been positive, with the company contributing significantly to the growth of DAMAC's revenue and investment in the real estate industry.
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