Dubai’s Damac posts over Dhs1bn loss for 2020; chairman says real estate market will take up to 2 years to recover

Dubai’s Damac Properties has posted a net loss of Dhs1.04bn for 2020, dipping sharply from a loss of Dhs37m in FY 2019. Total revenue for 2020 stood at Dhs4.7bn versus Dhs4.4bn in 2019.
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