Abu Dhabi-Mubasher: The Dubai-based developer Nakheel reported a 4% rise in its first-half profits, according to a bourse statement.
Net profits reached AED 2.95 billion ($803 million) in H1-16, compared to AED 2.83 billion ($770 million) in H2-15.
The developer delivered over 1,177 units during the first six months of this year, with its retail, residential leasing and hospitality businesses all performing strongly.
Nakheel opened Dragon Mart 2 and the first of a series of expansions at Ibn Battuta Mall, increasing the developer’s existing retail portfolio by 35% (1.1 million square feet), bringing the current operational total to 4.2 million sq ft.
The company also opened its first hotel – a 251-room property attached to Dragon Mart 2 and managed by Accor – during H1-16.
