Dubai developer Nakheel's fourth quarter profit falls 69 percent | Reuters:
Dubai state-owned developer Nakheel’s fourth-quarter net profit fell 69 percent, according to Reuters calculations, as a drop in property prices has forced construction and engineering firms to cut jobs and halt expansion plans.
Nakheel made a profit of 520 million dirhams ($141.6 million) in the October-December period, Reuters calculated, down from 1.67 billion dirhams a year ago.
The developer behind Dubai’s palm-shaped islands reported on Wednesday a 2018 annual profit of 4.38 billion dirhams, down from 5.67 billion dirhams in 2017. It did not report revenue.
No comments:
Post a Comment