FINANCIAL NEWS

Dubai’s Nakheel allocates USD2 b for giant projects

20 Jan 2014

(MENAFN) Net profit of Dubai developer Nakheel has exceeded 27.2 percent, while revenues rose by more than 20.5 percent in 2013, according to Khaleej Times.

As a result, the company plans to invest USD2.178 billion to launch more hotels and shopping malls in Dubai.

Nakheel said that its full-year profit rose by 27.2 percent reaching USD699 million, while revenues boosted by 20.5 percent at USD2.55 billion on the back of buoyancy on the property market.

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