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FINANCIAL NEWS
Dubai- Nakheel’s Jan-Sep profit grows to USD299.5m
22 Oct 2012
(MENAFN) Dubai’s Nakheel announced that in the January-September period, its net profit grew to USD299.5 million, compared with USD163.30 million in last year’s same period, reported Emirates 24/7.
The real estate developer said that the notable increase was boosted by property handovers and rising business in its retail and leasing division.
Since the beginning of Nakheel’s restructuring in last year’s August, the company, which had made cash payments of around USD2.55 billion to trade creditors, had handed over around 4,000 units to customers.
In the 9-month period, revenue increased to USD1.22 billion, compared with the USD544 million recorded in 2011’s same period.
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