Dubai-Mubasher: Dubai-based developer Nakheel Properties posted an 8% rise year-on-year in its first-quarter profits, according to a statement.
Net profits reached AED 1.47 billion in the first quarter of 2016, compared to AED 1.35 billion in the same quarter of 2015.
This quarter, the company handed over 536 units, while its retail, residential leasing and hospitality businesses showed a strong performance.
Nakheel officially opened in Q1-16 Dragon Mart 2, which is double the size of the 2.2 million square feet Dragon Mart mall complex.
The real estate developer also inaugurated its first hotel under the management of Accor.
Nakheel targets to officially open a 300,000 square feet extension to its flagship Ibn Battuta Mall in Q2-16.
