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UAE’s Nakheel to invest USD3.81b on projects by 2018

08 Apr 2015

(MENAFN) The Dubai-based Developer Nakheel is set to invest a sum of about USD3.81 billion over several projects in Dubai, according to the ruler of Dubai, Arabian Business reported.

The Vice President and Prime Minister of the UAE was also notified about the new transactions throughout a tour of Nakheel’s head office; the PM met with the head of Nakheel.

Among the included projects are Deira Boulevard, built over 9 million square feet, and Deira Mall, set to lodge 3,000 shops and will be bordered by nearly 16 residential towers, offices and four residential complexes.

In 2015, Nakheel forecasts sustaining its profit of about 40 percent recorded last year. The firm attributes the good hold of its profits to diversifying into the retail and hospitality sectors.

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