PROJECTS:
» Palm Jumeirah in Dubai, UAE
» The World in Dubai, UAE
» International City in Dubai, UAE
» Jumeirah islands in Dubai, UAE
» Veneto in Dubai, UAE
One of the world’s largest developers, Nakheel has been an influential part of Dubai’s evolution in the 21st century. It boasts of renowned projects that span a range of sectors – residential, commercial, retail and leisure. With tremendous developments and expansions coming up soon, the group has been on an upward trajectory this year. In April this year 2015, it announced its financial results for Q1 with a net profit of AED1.35 billion – more than double that of last year’s net profit.
Commenting on the results, Nakheel Chairman Ali Rashid Lootah said: “There is a 115% increase in our net profit for the first quarter of 2015 compared to the same period in 2014. We expect to build upon these impressive first quarter results throughout 2015, and will continue to remain focussed in contributing to the real estate sector in Dubai in a positive and effective manner in line with the Government’s 2021 vision.” Nakheel has also launched a number of projects in the retail, hospitality and residential leasing sectors, including a vast new community at Deira Islands and huge extensions to Dragon Mart and Ibn Battuta Mall, announced earlier in June.
When operational, these projects will generate cash revenue for Nakheel and further strengthen the company’s overall financial position. Nakheel is aiming for AED7.5 billion per year in recurrent income in the subsequent years.