Damac’s chairman Hussain Sajwani said that the company’s profit for 2016 is likely to be in line with AED4.5bn achieved in 2015. Mr Sajwani also said that the company had achieved about AED7.88bn 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 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 said that there were some organisations that have extended payment plans for 10 to 12 years. Damac’s payment plans typically run from 12 months to five years. (The National)   DAMAC Properties (DU): AED2.43 as of 28 August 2016, Rating: Neutral, FV: AED2.27 per share, MCap: USD4,006 million, DAMAC UH / DAMAC.DU