Dubai - Mubasher: Nakheel will see strong financial results in 2017, chairman Ali Rashid Ahmed Lootah forecast to Al Khaleej newspaper.
The company’s net profit reached AED 5 billion in the fiscal year 2016, and is expected to see similar or slightly higher results in 2017, the top official added.
Nakheel’s primary financial data denoted that the company’s performance was stable across all sectors including real estate development, asset management, and hospitality.
Previously, the Dubai-based company announced that its profits increased 2.5% year-on-year to AED 4 billion in the first nine months of 2017.
In 2016, Nakheel’s net profit amounted to AED 4.96 billion, its highest profits since its establishment, and 13% higher compared to AED 4.38 billion achieved in 2015.
Currently, the developer’s retail portfolio includes more than 17 million square metres of leasable areas, of which 13 million square metres are under development, in addition to 17 hotels and serviced residential complexes.
