Mubasher: Nakheel reported lower profits in the six-month period ended 30 June 2017, according to a statement.
The company posted net profits of AED 2.64 billion in the first half of 2017, compared to AED 2.95 billion in the prior-year period.
The company is confident of achieving its forecast results for 2017, which will reflect an overall growth in its profits.
Nakheel handed over almost 870 land form and built form units to customers between 1 January and 30 June 2017.
Annual revenues from non-development businesses – including retail, leasing, hospitality, and asset management services – have more than tripled from AED 800 million in 2010 to AED 2.5 billion in 2017.
Nakheel's construction contracts reached more than AED 11 billion in H1-17, including an AED 4.2 billion contract for Deira Mall at Deira Islands and an AED 1.5 billion contract for the Palm Gateway at Palm Jumeirah.
