{"id":53005,"date":"2017-04-26T21:12:20","date_gmt":"2017-04-26T14:12:20","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=53005"},"modified":"2017-04-26T19:19:57","modified_gmt":"2017-04-26T12:19:57","slug":"flat-profit-in-first-quarter-for-nakheel","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/flat-profit-in-first-quarter-for-nakheel\/","title":{"rendered":"Flat profit in first quarter for Nakheel"},"content":{"rendered":"


\nNakheel reported first-quarter profit of Dh1.48 billion, flat on a year earlier, as handovers slowed.The Dubai government-owned property developer reported a profit of Dh1.47bn in the same period last year.Nakheel said that it delivered 412 units to customers during the quarter, compared with 536 a year earlier.The developer said that its profits were in line with company forecasts, and that its retail, hospitality and residential leasing businesses continued to perform “solidly.”
\n“We continue to execute our long-term business plan, in turn contributing positively to Dubai’s real estate sector,” said the Nakheel chairman Ali Rashid Lootah.The results were in line with company forecasts, Nakheel said.The developer did not provide figures for its turnover during the period or any detailed breakdown of how its profit was achieved.Nakheel said that it awarded construction contracts worth Dh5bn during the first quarter of the year, and was set to award a further Dh4bn in the three months to the end of June.
\nThe developer said that it currently has 4 million square feet of retail space in operation with another 13 million sq ft under development, including Ibn Battuta Mall, Dragon Mart 1 and 2 and Golden Mile Galleria.The developer began work in February on the second expansion of Dubai’s Ibn Battuta mall, comprising 279 apartments, a 16-screen cinema and 53,000 sq ft of retail space.Nakheel earlier this week broke ground on a new Dh240m 375-room hotel at Ibn Battuta mall, which is expected to be completed by 2019.
\nTwo Nakheel hotels are currently in operation with 16 more under development. The company plans to double its residential leasing portfolio to more than 37,000 units under ongoing expansion plans.jeverington@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Flat profit in first quarter for Nakheel<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nakheel reported first-quarter profit of Dh1.48 billion, flat on a year earlier, as handovers slowed.The...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-53005","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-dMV","jetpack-related-posts":[{"id":30675,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-nakheel-reports-22-per-cent-rise-in-profit-for-third-quarter\/","url_meta":{"origin":53005,"position":0},"title":"Dubai's Nakheel reports 22 per cent rise in profit for third quarter","date":"October 19, 2016","format":false,"excerpt":"\r The Dubai-based property developer Nakheel said that its profit rose 22 per cent during the third quarter, reflecting what it described as \"stable market conditions.\"Net income for the three months to the end of September hit Dh955m, compared with Dh781m in the same period last year, but down from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21114,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nakheel-reports-flat-quarterly-profit\/","url_meta":{"origin":53005,"position":1},"title":"Nakheel reports flat quarterly profit","date":"July 27, 2016","format":false,"excerpt":"\r The Dubai developer Nakheel said on Wednesday its second-quarter net profit was flat as the Dubai property market remained in the doldrums.Net profit for the three months ending June 30 stood at Dh1.4 billion, the same figure for the same period a year earlier, according to figures published by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11022,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/handovers-lift-nakheel-first-quarter-profit\/","url_meta":{"origin":53005,"position":2},"title":"Handovers lift Nakheel first-quarter profit","date":"April 20, 2016","format":false,"excerpt":"\r \r First-quarter profit at Nakheel increased by an annualised 8 per cent as it opened new shops and hotels and handed over homes.The Dubai government-owned property developer said net profit came in at Dh1.47 billion for the three months to the end of last month from Dh1.35bn a year\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3597,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nakheel-reports-19-full-year-gain-despite-fall-in-q4-profit\/","url_meta":{"origin":53005,"position":3},"title":"Nakheel reports 19% full-year gain despite fall in Q4 profit","date":"February 4, 2016","format":false,"excerpt":"\r \r Fourth-quarter profit at the Dubai developer Nakheel fell by 28.7 per cent, company figures show, as Dubai's housing market continued to slow.According to figures provided by Nakheel, profit for the three months to the end of December 2015 fell to Dh770 million from Dh1.08 billion a year earlier.Nakheel,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42559,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-handovers-and-retail-expansion-drive-nakheel-to-record-figures\/","url_meta":{"origin":53005,"position":4},"title":"Property handovers and retail expansion drive Nakheel to record figures","date":"February 1, 2017","format":false,"excerpt":"\r Nakheel, the company that built Palm Jumeirah, yesterday said net profit last year increased by 13 per cent on higher property handovers and retail expansion despite a softening property market in Dubai. The government-owned developer, which was at the centre of the Dubai World crisis in 2009, said that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23589,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-developer-nakheel-brings-an-end-to-debt-restructuring-saga-with-dh4-4bn-payment\/","url_meta":{"origin":53005,"position":5},"title":"Dubai developer Nakheel brings an end to debt restructuring saga with Dh4.4bn payment","date":"August 22, 2016","format":false,"excerpt":"\r Nakheel, the developer of Dubai's palm-shaped islands, has repaid an Islamic bond, bringing an end to its debt restructuring saga.The Dubai government-owned company transferred funds to agent Deutsche Bank to cover the Dh4.4 billion sukuk maturing later this month, chairman Ali Rashid Lootah told reporters in Dubai. The securities,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/53005"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=53005"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/53005\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=53005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=53005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=53005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}