Damac Properties acquires 2 plots for AED 285m

Dubai – Mubasher: Damac Properties Dubai Company has successfully acquired two plots in Al Sofouh and Business Bay areas from Dico Properties Company and Soor Foodstuff Company.

The transaction’s total cost valued at AED 285 million, according to Damac’s statement to the Dubai Financial Market (DFM) on Wednesday.

The Dubai-based company noted that the acquisition comes along with its approach to acquire prime plots in distinctive areas in order to expand its land bank for new innovative developments in future to increase its revenues for the benefit of its shareholders.

 

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