Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Dubai's Nakheel posts 57% increase in 2012 net profit  Join our daily free Newsletter

MENAFN - 24/01/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN) Nakheel Chairman, Ali Rashid Lootah, stated that the real estate developer's net profit for last year surged by 57 percent, reaching USD549 million, from USD348 million in 2011, reported Emirates 24/7.

Lootah said that the Dubai-based firm posted revenues of USD2.12 billion in the year, which represents a hike of 91 percent from the USD1.11 billion recorded in 2011.

The chairman noted that USD381 million worth of construction contracts were granted in 2012 for new projects, including Dragon Mart Phase 2, Palma Residences, Palm Views, Jumeirah Park Legacy Villas and community/retail centers at Jumeirah Park and Discovery Gardens.

Furthermore, retail revenue grew 23 percent and residential revenue rose 17 percent.

He added that occupancy at both Dragon Mart and Ibn Battuta Mall reached nearly 100 percent, while leases for residential and retail units at International City, Discovery Gardens and Garden View Villas, grew to 92 percent.

Nakheel delivered more than 2,857 units last year, with the majority located in Palm Jumeirah, Al Furjan, International City, Jumeirah Village, Jumeirah Park, and Jumeirah Heights residential developments.

Meanwhile, since its restructure until the last month of 2012, the company has handed over 4,600 units, and will deliver about 3,000 units during the current year.

In 2012, the firm completed interest and profit payments of almost USD217.74 million to banks, while since the start of its restructure, it made cash payments of nearly USD2.72 billion to several trade creditors and contractors.

On the other hand, long-term customer liabilities fell by approximately USD1.98 billion from USD2.69 billion.

 






  MENA News Headlines
Apr 24 2014Qatar- QFC Authority Five-a-Side Football Tournament Kicks Off ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Financial Centre (QFC) Authority's first Five-a-side Football Tournament is displaying dribbling skills of executives from Doha's financial ...

Apr 24 2014Georgian Justice Minister Leaves Doha ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - HE Minister of Justice of Georgia Tia Tsulukiana left Doha on Thursday morning wrapping up a two-day official visit to the country. An agreement on ...

Apr 24 2014Egyptian Premier Off to Chad ,Qatar News Agency
(MENAFN - Qatar News Agency) Cairo April 24 - Egyptian Prime Minister Ibrahim Mehlib left cairo on Thursday for Chad the first leg of a three-day two-state trip that will also take him to Tanzania ...

Apr 24 2014Australian Federal Parliament Deputy Speaker Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Canberra April 24 - Australian Federal Parliament Deputy Speaker Bruce Scott met here Thursday with HE Qatar's Ambassador to Australia Yousef bin Ali Al ...

Apr 24 20143 GCC countries among top 30 on network readiness index ,MENAFN
(MENAFN) According to an annual global technology survey for network readiness index for 2014, three GCC countries have made it to the top 30 list for the third year in a row, Gulf Daily News ...

Apr 24 2014Morocco Admitted As Observer Member to SICA ,Qatar News Agency
(MENAFN - Qatar News Agency) La Romana Dominican April 24 - Morocco has been admitted as an observer member in the Central American Integration System (SICA) which also includes each of Belize ...

Apr 24 2014UN Chief: All Parties in Syria Blocking Aid ,Qatar News Agency
(MENAFN - Qatar News Agency) w York April 24 - The UN Secretary General Ban Ki-moon has accused all parties in Syria's civil war of "flagrant violations" of international law over the delivery of ...

Apr 24 2014Aqaba Container Terminal Contributes to Elevating Standards of Pre-School Education ,MENAFN Press
(MENAFN Press) Aqaba Container Terminal (ACT), the world's gateway to Jordan and beyond, recently held a charity dinner in collaboration with the Aqaba Intercontinental Hotel. The event, held at the ...

Apr 24 2014Dubai Financial Market profit soars in Q1 ,MENAFN
(MENAFN) Dubai Financial Market (DFM) announced a better-than-expected net profit increase in the January-March period of this year, Arabian Business reported. The Gulf's only listed bourse said ...

Apr 24 2014Omani government sells 19 percent stake in Omantel ,MENAFN
(MENAFN) Oman's government could raise as much as USD530 million after selling 19 percent stake in its Omantel, according to Gulf Daily News. Muscat bourse said that the Omani government aims to ...

Apr 24 2014Representative office of Investcorp launched in Bahrain ,MENAFN
(MENAFN) Investcorp, an alternative investment manager, has recently opened a new office in Abu Dhabi, located on Sowwah Square in Al Maryah Island, according to Gulf Daily News. The opening ...

Apr 24 2014EshailSat Announces Platinum Sponsorship of Qitcom Satellite Communications play important role in the development of ICT in Qatar ,MENAFN Press
(MENAFN Press) Es'hailSat, the Qatar Satellite today announced that the company has become a Platinum Sponsor of Qitcom, Qatar's largest ICT event, taking place in Doha from 26-28th May 2014. ...

Apr 24 2014Pedestrians to Benefit from the Abu Dhabi Urban Planning Councils New Utilities Guidelines ,MENAFN Press
(MENAFN Press) Pedestrians could soon benefit from a new set of guidelines for the installation of underground utilities in the Emirate's urban developments. The Utility Corridors Design Manual ...

Apr 24 2014Cityscape Abu Dhabi sees emphasis on live, work, play developments ,MENAFN Press
(MENAFN Press) Mixed-use projects are leading the way at Cityscape Abu Dhabi, as developers identify community living areas as the most profitable long term real estate offerings for Middle East ...

Apr 24 2014UAE- Investcorp continues expansion ,Khaleej Times
(MENAFN - Khaleej Times) Investcorp a global provider and manager of alternative investment products announced that it has opened a new representative office in abu dhabi. the office is situated ...

Apr 24 2014UAE- Al Maabar hands over 60% units at Moroccan project ,Khaleej Times
(MENAFN - Khaleej Times) Abu dhabi-based real estate developer al maabar said that 60 per cent of the residential units of phase one at its moroccan bab al bahr project have been delivered to its ...

Apr 24 2014UAE- Dh8 billion Emaar bonanza for its shareholders ,Khaleej Times
(MENAFN - Khaleej Times) This includes 15 per cent cash dividend ? equivalent to about dh975 million ? and 10 per cent bonus shares or 650 million shares valued at about dh7. in a step certain ...

Apr 24 2014Qatar- HH Sheikha Moza Meets Mayor of Kobe Visits RIKEN Research Institution ,Qatar News Agency
(MENAFN - Qatar News Agency) Kobe April 24 - Her Highness Sheikha Moza bint Nasser Chairperson of Qatar Foundation for Education Science and Community Development (QF) today held a meeting with the ...

Apr 24 2014Qatar- Sidra-BMC Event Boosts Biomedical Research Publishing ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - A symposium organised jointly by Sidra Medical Research Centre and BioMed Central (BMC) mulled trends in research and on open access publishing here ...

Apr 24 2014Qatar- Mannai Corp Q1 Net Profit up 73% to QR 150.1 Million ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Exchange listed Mannai Corporation (QE: MCCS) net profit is up 73% to QR 150.1 Million for the first quarter of fiscal year 2014 ending March 31 ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help