{"id":21403,"date":"2017-02-14T06:16:27","date_gmt":"2017-02-14T06:16:27","guid":{"rendered":"https:\/\/damacofficial.com\/hussainsajwani\/?p=21403"},"modified":"2025-06-23T06:56:44","modified_gmt":"2025-06-23T06:56:44","slug":"damac-international-submits-an-application-for-planning-approval-incorporating-zaha-hadid-architects-stunning-design-4-2","status":"publish","type":"post","link":"https:\/\/damacofficial.com\/hussainsajwani\/damac-international-submits-an-application-for-planning-approval-incorporating-zaha-hadid-architects-stunning-design-4-2\/","title":{"rendered":"Buyers want more for their money, says DAMAC"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Source:&nbsp;<a href=\"http:\/\/www.arabianbusiness.com\/buyers-want-more-for-their-money-says-damac-663319.html\" target=\"_blank\" rel=\"noreferrer noopener\">Arabian Business<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dubai luxury developer DAMAC said the current property market conditions have led to buyers seeking better value.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dubai\u2019s DAMAC Properties reported a 1.3 percent rise in its fourth-quarter net profit on Tuesday, according to Reuters calculations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The developer reported a net profit of 854.6 million dirhams ($232.7 million) for the three months to Dec. 31, 2016, Reuters calculated in the absence of a quarterly breakdown. This was up from 844 million dirhams reported for the year-ago period.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Full-year 2016 net profit was 3.69 billion dirhams, down from 4.51 billion dirhams in 2015, the&nbsp;<a href=\"https:\/\/www.affordable-papers.net\/\">company<\/a>&nbsp;said. The company said its shareholders had approved the distribution of a cash dividend of 0.25 dirhams per share for 2016. That compares with 0.15 dirhams per share for the previous year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Hussain Sajwani, chairman of DAMAC, in a statement published with the developer\u2019s Q4 results, said the Dubai real estate market in 2016 had stabilised over 2015, with no major fluctuations in prices.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThere is demand for quality real estate but with the challenging market conditions we are operating in, what has changed is customers are seeking better value,\u201d Sajwani said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cOur medium to long-term outlook remains positive, and we are well-positioned to accommodate and navigate these conditions.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Last month, Arabian Business revealed that the prices of Akoya and Trump-branded projects in Dubai fell by up to 7% in 2016.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sajwani said its most recently launched properties in the golf community were reduced to attract a wider range of buyers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cDuring the year, we launched a series of innovative products in our golf community Akoya Oxygen that were priced to attract a wider audience, including first-time buyers and millennials, looking for properties in premium locations at an attainable price and with favourable payment terms,\u201d Sajwani said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThese investors were seeking to either diversify their current investment portfolio or were end-users with lifestyle aspirations.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">DAMAC ramped up the delivery of its properties significantly in Q4, handing over 1,100 units in the quarter alone, which brought the total units delivered to more than 2,400 for the year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source:&nbsp;Arabian Business Dubai luxury developer DAMAC said the current property market conditions have led to buyers seeking better value. Dubai\u2019s DAMAC Properties reported a 1.3 percent rise in its fourth-quarter&hellip;<\/p>\n","protected":false},"author":1,"featured_media":22397,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194],"tags":[],"class_list":["post-21403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Buyers want more for their money, says DAMAC - Hussain Sajwani<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buyers want more for their money, says DAMAC - Hussain Sajwani\" \/>\n<meta property=\"og:description\" content=\"Source:&nbsp;Arabian Business Dubai luxury developer DAMAC said the current property market conditions have led to buyers seeking better value. Dubai\u2019s DAMAC Properties reported a 1.3 percent rise in its fourth-quarter&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/damacofficial.com\/hussainsajwani\/damac-international-submits-an-application-for-planning-approval-incorporating-zaha-hadid-architects-stunning-design-4-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Hussain Sajwani\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-14T06:16:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-23T06:56:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/damacofficial.com\/hussainsajwani\/wp-content\/uploads\/2023\/10\/Buyers-want-more-for-their-money-says-DAMAC.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1680\" \/>\n\t<meta property=\"og:image:height\" content=\"656\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"v-salman@damacgroup.com\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"v-salman@damacgroup.com\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/damacofficial.com\/hussainsajwani\/damac-international-submits-an-application-for-planning-approval-incorporating-zaha-hadid-architects-stunning-design-4-2\/\",\"url\":\"https:\/\/damacofficial.com\/hussainsajwani\/damac-international-submits-an-application-for-planning-approval-incorporating-zaha-hadid-architects-stunning-design-4-2\/\",\"name\":\"Buyers want more for their money, says DAMAC - 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