Dubai's Nakheel made a 2010 profit of Dh860 million ($234.1m) and sees a rise in revenue this year as the property developer revamps its operations post its $16 billion debt restructuring, its chairman told a local newspaper.
The rise in profit, which provided a strong boost for the company after the 2009 real estate crash left it financially crippled, was due to an increase in the company's activities, said chairman Ali Rashid Lootah in a local daily on Sunday, without elaborating.
"Nakheel's announcement of its profits is an important step ... towards fulfilling our promises to our clients and strategic partners," he said.
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