Properties, which is also known as Nakheel Corporation,
is the most popular real estate company dealing
in freehold property in Dubai, United Arab Emirates
[UAE]. Its real estate development ranges into residential,
tourist, commercial and retail property.
Properties' flagship property are the 3 man-made
palm tree shaped islands on the coast of Dubai.
Nakheel operates under the umbrella of The Corporate
Office, which manages various businesses on behalf
of the Dubai government. The executive chairman
of Al Nakheel is Mr. Sultan Ahmed bin Sulayem.
Nakheel made a net profit of Dhs491m in Q1 2013, a 36% increase on a net profit of Dhs362m in the same period last year. Q1 2013 revenues stood at Dhs2.185bn, up 62% on revenues of Dhs1.35bn in the first quarter of 2012, the company announced today.
Nakheel is further expanding its Palm Jumeirah project portfolio with the launch of Azure Residences, a collection of beachfront apartments and dining outlets overlooking the Arabian Gulf and Dubaiís world-famous landmarks.