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Nakheel net profit is 2.5% higher than last year

- October 26, 2017

The Dubai-based developer, Nakheel has announced recording 1.1 billion dollars as net profit for the first nine months of 2017 which is 2.5% higher than last year’s figures.

The company has confirmed handing over 1,200 units in 2017 to date and has more than 23,000 units under construction across Dubai that includes Palm Jumeirah, Nad Al Sheba, and Jumeirah Park.

It is worth mentioning that to this date the company has awarded construction contracts with the worth of 2 billion dollars.

According to Dubai Media Office, the awarded contracts include $1.1bn deal for Deira Mall and a $408.3m agreement for The Palm Gateway.

“The growth in our net profit signals stability and maturity in Dubai’s real estate market, and reflects our ongoing strategy to diversify our business in order to build a long-term, sustainable business and achieve our financial objectives,” Ali Rashid Lootah, the chairman of Nakheel, said.

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