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27-03-14

Dubai's Nakheel profit to rise 15 percent in 2014

(MENAFN) Dubai property developer Nakheel aims to hit 15 percent rise in annual profit this year on launching new projects in the emirates, according to Arab News. As Dubai's house prices dropped by more than half in 2011, the company approved a USD16 billion debt restructuring. Dubai's real sector is seeing a slow growth, allowing Nakheel make an annual profit of USD699.70 million in 2013, registering 27 percent rise compared to 2012.