Nakheel, the Dubai based developer, reported a net profit of AED1.47 billion for 1Q16, up 9% Y-o-Y. The company said that it handed over 536 completed units to customers in 1Q16 and that retail, residential leasing and hospitality businesses are showing strong performance. Nakheel further said that it is on target to open a 300,000 sq feet extension to Ibn Battuta Mall in 2Q16. (Bloomberg)
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