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

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Nakheel said that the profit rise was mainly due to handing over 536 completed units, with retail, residential leasing and hospitality businesses all showing a strong performance.

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.

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