Hussain Sajwani, the chairman of the Dubai developer Damac, said the company’s profit for this year was likely to be in line with the Dh4.5 billion it achieved last year.
In an interview with the Arabic newspaper Al Khaleej, Mr Sajwani also said that the company had achieved about Dh7.88bn of sales to date at its 55-million-square foot master planned community Akoya Oxygen off Al Qudra Road in Dubai, which contains a Trump International Golf Club and a Tiger Woods-designed course.
He also warned that the lengthy payment plans being offered by many of Damac’s competitors in the city could lead to the type of speculation that had previously led to asset price bubbles in the Dubai market
A spokesman for Damac told The National that there were some organisations that have extended payment plans for 10 to 12 years.
“Our view is that is not necessarily the right thing for the industry,” he said, as it allows people to sign up for new homes without having to put down much up front.
He said its typical payment plans run from 12 months to five years, which was a more sustainable business model.
Damac declared a profit of Dh1.9bn for the first half of this year earlier this month, and the spokesman said that the company expected its full-year profit to be “there or thereabouts” the Dh4.5bn figure achieved last year. He said that second-half profit was likely to be higher because the first six months contained the quieter Ramadan period, and that it has historically experienced stronger sales during the latter part of the year.
mfahy@thenational.ae
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The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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About Karol Nawrocki
• Supports military aid for Ukraine, unlike other eurosceptic leaders, but he will oppose its membership in western alliances.
• A nationalist, his campaign slogan was Poland First. "Let's help others, but let's take care of our own citizens first," he said on social media in April.
• Cultivates tough-guy image, posting videos of himself at shooting ranges and in boxing rings.
• Met Donald Trump at the White House and received his backing.
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Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
SPECS
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if you go
The flights
Emirates have direct flights from Dubai to Glasgow from Dh3,115. Alternatively, if you want to see a bit of Edinburgh first, then you can fly there direct with Etihad from Abu Dhabi.
The hotel
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Located in the heart of Mackintosh's Glasgow, the Dakota Deluxe is perhaps the most refined hotel anywhere in the city. Doubles from Dh850
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Events and tours
There are various Mackintosh specific events throughout 2018 – for more details and to see a map of his surviving designs see glasgowmackintosh.com
For walking tours focussing on the Glasgow Style, see the website of the Glasgow School of Art.
More information
For ideas on planning a trip to Scotland, visit www.visitscotland.com
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THE BIO:
Sabri Razouk, 74
Athlete and fitness trainer
Married, father of six
Favourite exercise: Bench press
Must-eat weekly meal: Steak with beans, carrots, broccoli, crust and corn
Power drink: A glass of yoghurt
Role model: Any good man
