Dubai-Mubasher: Dubai developer Nakheel said that its net profits reached AED 4.38 billion in the fiscal year 2015, a 19% growth to AED 3.68 billion in the fiscal year 2014, according to the company’s statement on Wednesday.
Delivering better financial performance was mainly attributed to the ongoing support from customers and investors, Dubai’s government, Nakheel’s board of directors and other stakeholders.
The plan to increase cash-generating assets of the business is also paying dividend with combined revenues from retail and residential leasing increasing their overall share in the company revenues in 2015 compared to 2014.
Nakheel handed over 847 units to customers last year across its Palm Jumeirah, Al Furjan, International City, Jumeirah Village, Jumeirah Park and Jumeirah Heights communities. The developer also delivered around 9,700 units between 2010 and 2015.
“We are pleased to announce yet another year of strong financial performance,” Nakheel said, adding that “profits have steadily improved from AED 0.96 billion in 2010 to AED 4.38 billion in 2015, reflecting our strong commitment to deliver to our customers who have placed immense trust and confidence in Nakheel.
