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Dubai developer Nakheel posts 8% rise in first-quarter profit

Published Wed, Apr 20, 2016 · 09:50 PM
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Dubai

DUBAI property developer Nakheel reported an 8 per cent rise in its first-quarter profit on Wednesday.

Nakheel made a profit of 1.47 billion dirhams (S$536.8 million) in the three months to March 31, up from 1.35 billion dirhams a year earlier, it said in a statement.

The company did not state its revenue or reveal other financial details but said that the profit rise was mainly due to it handing over 536 completed units and its "retail, residential leasing and hospitality businesses all sh…

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