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Wednesday, 2 May 2018

Nakheel Q1 profit rises 5 percent, hands over fewer units | Reuters

Nakheel Q1 profit rises 5 percent, hands over fewer units | Reuters:

"Dubai developer Nakheel reported a 5 percent increase in first quarter net profit on Wednesday while handing over fewer than half the number of units it did a year earlier. Dubai’s residential property market is showing few signs of rebounding from a three-year downturn caused by modest demand and increasing supply from new developments. Net profit for the January-March quarter rose to 1.55 billion dirhams ($422 million) from 1.48 billion, the state-owned developer said in a statement."



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