UAE’s developer, Damac Properties, announces a decline in its profits year-on-year in the third quarter of 2017, Invest-Gate reports.

Profits reached AED 719.34 mn in Q4-17 compared to AED 901.96 mn in Q4-16, according to the company’s financial statements.

Revenues jumped around 31% year-on-year to AED 2.29 bn in Q3.

In the first nine months of 2017, Damac reports net profits of AED 2.3 bn and total revenues of AED 5.8 bn, according to a press release.