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20-01-14

Dubai's Nakheel allocates USD2 b for giant projects

(MENAFN) Net profit of Dubai developer Nakheel has exceeded 27.2 percent, while revenues rose by more than 20.5 percent in 2013, according to Khaleej Times. As a result, the company plans to invest USD2.178 billion to launch more hotels and shopping malls in Dubai. Nakheel said that its full-year profit rose by 27.2 percent reaching USD699 million, while revenues boosted by 20.5 percent at USD2.55 billion on the back of buoyancy on the property market.