Dubai-Nakheel posts USD 0.41bn profit for Q1

21 Apr 2016

(MENAFN) Dubai property developer Nakheel recorded a USD 0.41bn net profit for Q1 of 2016; with an 8 percent grow over USD 0.36bn in the same period of 2015.

Accordingly, the profit increase was related to it handing over 536 completed units and its retail, residential leasing and hospitality.

In addition, Nakheel opened Dragon Mart 2, almost doubling the size of the Dragon Mart mall complex to 2.2mn sq ft of leasable space.

Moreover, it is also on target to open a 300,000 sq ft extension to its flagship Ibn Battuta Mall in the second quarter of 206, and will increase its portfolio of retail.

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