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FINANCIAL NEWS
UAE- Nakheel posts 22pct increase in Q4 revenue
02 Feb 2017
(MENAFN) UAE-based Nakheel, one of the globe’s leading developers has announced a record net profit of USD1.35bn for 2016, the highest in the firm’s history.
Additionally, the developer produced a net profit of Dh955mn for the fourth quarter, up 22 percent on the Dh781mn posted for the same period in 2015.
Last year’s results, which take the developer’s cumulative results since 2010 to Dh19.9bn, follow improved year-on-year performances by the firm’s retail business.
On the retail side, Nakheel proclaimed its revenue grew by more than 70 percent in 2016 compared to 2015.
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