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FINANCIAL NEWS
Dubai’s Nakheel sells Palm plot for USD109m
13 Aug 2012
(MENAFN) Dubai developer Nakheel has sold a 305,704 sq ft plot of land on Palm Jumeirah to a local investor for USD109 million, Bloomberg reported.
Nakheel indicated that the sale showed a strong signal on a renewed investor confidence in Dubai real estate and in particular for unique products such as those offered on Palm Jumeirah.
Last month, the state-owned developer reported a 36 percent increase in half-yearly profits to USD208.82 million year-on-year, boosted by property handovers on several projects. Revenue rose 112 percent to USD843.97 million.
Last year, Nakheel ownership was transferred from Dubai World to Dubai government, as part of a restructuring process.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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