DAMAC REAL ESTATE DEVELOPMENT LIMITED Reports net profit of $527 million in first half of 2016

DAMAC Real Estate Development Limited (“DAMAC” or the "Company"), a leading developer of high-end and luxury residential property in the Middle East, announces results for the half year ending 30 June 2016.

Financial Statements are available at:

https://www.damacproperties.com/en/investor-relations/financial-information/damac-real-estate-development-limited/financial-statements

Performance Highlights

Revenue at $917.8 million for 1H 2016

Gross profit at $538.0 million for 1H 2016

Net Profit at $527.2 million for 1H 2016

Total assets stood at $6,397.7 million as at 30 June 2016.

Gross Debt stood at $1,014.6 million as at 30 June 2016 representing Gross debt to

equity ratio of 0.34.

Cash and bank balance stands at $2,395.8 million as at 30 June 2016

Booked Sales of $986.4 million for 1H 2016

Total deliveries of 494 units in 1H 2016

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For further information: Investor.relations@damacgroup.com