Nakheel announces 57% profit rise

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REVEALED: Best cities for hotel investment

Beirut, Lebanon
2012 % Occupancy: 55 / % Change since 2011: -3
Average Room Rate 2012: 195 / % Change since 2011: -12
Average Room Yield: 108 / % Change since 2011: -16.7
Data Source: Ernst & Young Middle East Hotel Benchmark Survey
Time Period: Year–to–Date Performance for Jan 2012 to Nov 2012
Currency: US$

Wednesday, 23 Jan 2013 9:01 AM
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Posted by: Rainigade

Great news! Does this mean that Jumeirah Village Triangle will finally be finished? That we'll soon see an army of men-in-blue completing the works pending, rather than the trickle of one or two, sitting in the sand and sleeping in our garages?

Its only been four years since the majority of the villas were handed over, after all. District 1 is still under construction, so I'm guessing that some of Nakheel's 57% profit will go towards the completion of unfinished projects.

Right?

Posted by: Berny Madoff

Food for thought, build big time, collect from buyers, deliver low quality or don't deliver anything, charge maximum for none existing services, don't pay suppliers. Then declare profits. This is what I call a good business model. Let's see how long it will last, what will be the payback (sooner or later). For me only 57% profit increase with such model is poor performance.

Posted by: Patrick Holm

What about the poor people that Nakheel have taken money from for JPark houses and you have still not delivered on your promises 5 years later.

Posted by: Bilal

It is manupulation strategy money will be paid in long 1 5 Years in installement. Agreements are made previously and now profits are declared - Result - smart people.

Posted by: Matts

I guess the confiscated toys of the tenants were really worth millions finally.......lol

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