DAMAC Properties agrees to increase its stake in DAMAC International Limited

Dubai – Mubasher: The board of directors of “DAMAC Properties”, during its meeting held last Thursday, agreed to increase the company’s ownership of the capital of “DAMAC International Limited”.

In a statement on the Dubai Financial Market, the company indicated that the Board had agreed to increase its stake in the company from 20 percent to 45 percent.

According to the company’s statement on the Dubai Financial Market website, losses amounted to 1.034 billion dirhams by the end of 2020, compared to losses of 36.9 million dirhams achieved during the same period of the previous year.

And for the fourth quarter of last year, the company recorded losses of 108.2 million dirhams, compared to losses of 169.5 million dirhams.


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