Media ININ Economy We Trust
MEDIA IN, Dubai, May 2, 2018 (WAM)
Nakheel has announced a net profit of AED 1.55 billion in the first quarter of 2018, registering a 5 per cent growth on first-quarter net profit in 2017.
Nakheel handed over some 200 real estate / land units and residential units to customers in the first quarter of 2018. The last group of villas available in its new community of 939 homes was sold at Worsan Village while the company’s portfolio continued to perform strongly in the retail sector Hospitality and residential leasing.
Nakheel has officially signed construction contracts valued at AED 5 billion between January 1 and March 31, 2018, including Deira’s AED 4.2 billion Deira Mall in Deira Islands and a AED 385 million contract for its first joint venture, Deira Islands “with” Rio Spanish Hotels & Resorts “to build an 800-room beachfront hotel and resort and a water park.
The first quarter of 2018 witnessed significant progress in the construction of Nakheel’s residential, retail and hospitality projects including The Palm Tower, Nakheel Mall, The Palm Gate, Palm Jumeirah and The Market. Night in Deira Islands, Deira Mall, Rio and Centara resorts in Deira Islands and Souq Warsan in Worsan Village.
“It was a startling start in 2018. Our first quarter results reflect our continued diversification and diversification, according to our business plan. Our key role is to strengthen the real estate sector in Dubai – through a growing portfolio of projects in the sectors,” said Ali Rashid Lootah, Chairman of Nakheel. Housing, retail and hospitality – in line with government objectives. “
