Damac Properties Dubai (Damac) reported its financial results for 4Q2015. Revenue came in at AED4,796 million and net income at AED1,032 million, bringing the full-year revenue to AED8,536 million and net income to AED4,515 million. 2015 revenue came in roughly in line with Bloomberg consensus estimates of AED8,540 million (variance: -3.3%) and AED4,520 million (variance: -0.1%). Booked sales totaled AED9,041 billion in 2015 (-21.4% Y-o-Y), implying AED2,032 million in 4Q2015 (AED1,898 million in 3Q2015, AED2,712 million in 4Q2014). Area sold rose 2.8% Y-o-Y in 2015 to 8.12 million sqft. A total of 2,637 units were completed in 2015, 43% of which were completed in 4Q2015. The company’s net cash position was at AED5,737 million (AED6,242 million in September 2015, AED3,967 million in December 2014). (Company disclosure, Bloomberg)