Thursday, Aug 16, 2012
Dubai: In addition to the listed developers, Nakheel, which underwent a restructuring to manage its debt pile, has started construction activities in the Palm Jumeirah as well as the Dragon Mart at Dubai’s International City.
It also recently recorded a Dh40 million plot sale on the Palm Jumeirah island.
The Dubai World-owned developer has also returned strong profit growth of 36 per cent for the first half of 2012, over the corresponding period last year.
“Confidence is returning to the market and, when considering the latest reports regarding healthy profits and renewed activity by several leading developers, the industry is certainly looking vibrant again,” said Mohanad Al Wadiya, Managing Director of Harbor Real Estate.
By Saifur Rahman Business Editor
Gulf News 2012. All rights reserved.
