Dubai – Mubasher: Nakheel Properties on Wednesday released its financial results for the first nine months of 2017, which showed a 2.5% year-on-year increase in net profits to AED 4 billion.
So far in 2017, Nakheel Properties has delivered around 1,200 units and awarded AED 7 billion construction contracts in addition to completing “milestones” such as Warsan Village and Jumeirah Islands, according to a company statement.
“The growth in our net profit signals stability and maturity in Dubai’s real estate market, and reflects our ongoing strategy to diversify our business,” said Nakheel Properties’ chairman Ali Rashid Lootah.
Diversifying our business help in building “a long-term sustainable business and achieve our financial objectives,” the top official added.
With over 23,200 underway residential units in different districts across Dubai, including Palm Jumeirah, Nad Al Sheba and Jumeirah Park, Nakheel Properties’ “current and future retail portfolio comprises over 17 million square feet”.
