FINANCIAL NEWS

Dubai’s Nakheel registers USD1b net profit in 2014

23 Feb 2015

(MENAFN) Dubai’s Nakheel, the real estate giant, logged a net profit of USD1 billion in 2014, marking a 43 percent increase over the year before, The Peninsula Qatar reported.

The USD1 billion net profit of 2014 drastically contrasts with the USD699.64 million of 2013, for the government-owned company who said that solid performance was driven by continued delivery of residential units and plot sales.

“2014 was our biggest year yet in terms of financial performance and achievements,” Nakheel chairman said in a statement emphasizing the company’s success in repaying debt of USD2.15billion ahead of its due date.

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