São Paulo – Nakheel, real estate developer from the United Arab Emirates, posted a profit of US$ 770.5 million in H1 of this year, a figure 53% higher than the one from the same period of last year. The data was released by the company this Monday (27th). <\/p>\n
According to the press release, the strong growth was due to business performance in development business, with ongoing handovers of properties to customers. Leasing and leisure business, besides growing retail, also contributed for the financial results of H1 2015. <\/p>\n
The release points out that Nakheel continues to focus on the completion of several current development projects, as well as expanding its retail, hospitality and residential leasing projects to further contribute to the growth of the Dubai’s real estate market and further strengthen the overall financial position of the company. <\/p>\n
“We have achieved a significant increase in our net profit for the first half of 2015 compared to the same period of 2014”, said Ali Rashid Lootah, Nakheel’s chairman, according to the company’s press release. “We will build on these results during the second half of this year, and remain committed to playing a key role in contributing positively and effectively to Dubai’s real estate sector”, he emphasized. <\/p>\n
“Our strategy of continuing to create more cash-generating assets will further boost our business and financial results in the coming years”, added Lootah. <\/p>\n
Among the most famous Nakheel’s ventures are the theme mall Ibn Battuta Mall and Palm Jumeirah, the world’s largest artificial island, with hotels and luxury homes. <\/p>\n
*Translated by Sérgio Kakitani<\/strong><\/p>\n