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In the first six months of the year (H1), Nakheel posted a net profit of AED2.64 billion (USD718.77 million).

The group handed over almost 870 land form and built form units, while revenue from non-development businesses registered a significant increase to AED2.5 billion (USD680.57 million).

Moreover, during the period under review, Nakheel announced construction contracts worth more than AED11 billion (USD2.99 billion), continuing its strategy of developing cash-generating assets.

Despite net profits falling compared to H1 2016, when the group achieved AED2.95 billion (USD803.18 million), the company is confident of meeting its forecast, which is expected to reflect an overall growth in profits for the year.