Telegram founder Pavel Durov UAE’s richest with $17.2 bn: Forbes
He became the first UAE resident to bag a position in the list of top 200 billionaires in the world
By Sameer| Updated: 7th April 2021 3:23 pm IST Pavel Durov [Instagram]
Dubai: Telegram founder Pavel Durov topped the Forbes list of UAE’s richest billionaires with a net worth of $17.2 billion. Eleven UAE residents found their names on the list. These 11 billionaires control a total of $43.4 billion of wealth. Nearly 40 percent of it is held by the Telegram founder.
In the global Forbes’ richest list, he grabbed the 112th position. He also became the first UAE resident to bag a position in the list of top 200 billionaires in the world after his wealth increased from $3.4 billion in 2020 to $17.2 billion in 2021.
Dh63 billion wealth: This expat is now UAE s richest person khaleejtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from khaleejtimes.com Daily Mail and Mail on Sunday newspapers.
Damac Properties 2020 loss widens to $283m, revenue up
DUBAI, 7 days ago Leading Dubai developer Damac Properties has posted a AED1.04 billion ($283 million) net loss for 2020 compared to AED37 million ($10 million) the year before. Total assets stood at AED 21.1 billion compared to AED 23.8 billion as of December 31, 2019. Announcing its audited financial results for 2020, Damac said the lasting effects of Covid-19, which has devastated economies across the globe, had understandably impacted the profit margin at Damac. With global lockdowns, travel restrictions and the dip in global travel, Dubai s property market has been adversely affected, it stated. However, Damac s total revenue for the year surged to AED4.7 billion from AED4.4 billion in 2019, while the booked sales for the period stood at AED2.3 billion vs AED 3.1 billion in 2019.
Meet The Expat Who s Now UAE s Richest Person albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.
The developer posted Dhs4.7bn in total revenues for 2020
by Gulf Business
April 1, 2021
Dubai’s Damac Properties has posted a net loss of Dhs1.04bn for 2020, dipping sharply from a loss of Dhs37m in FY 2019.
Total revenue for 2020 stood at Dhs4.7bn versus Dhs4.4bn in 2019. Meanwhile, booked sales for the period stood at Dhs2.3bn, compared to Dhs3.1bn in 2019.
Total assets stood at Dhs21.1bn in 2020 compared to Dhs23.8bn as of December 31, 2019.
As of December 31, 2020, gross debt stood at Dhs3.2bn, while cash and bank balances totaled Dhs4.2bn. Shareholders’ equity, meanwhile, equaled Dhs13bn as of December 31, 2020.