Nakheel announces 57% profit rise

Posted by: Rainigade Sunday, 3 February 2013 10:55 AM[UAE] - UAE

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 Friday, 25 January 2013 11:16 AM[UAE] - Korea

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 Friday, 25 January 2013 11:15 AM[UAE] - United Kingdom

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 Friday, 25 January 2013 12:33 AM[UAE] - u.a.e.

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: Telcoguy Friday, 25 January 2013 11:36 AM[UAE] - UAE

Your financial logic is intriguing

Posted by: Matts Thursday, 24 January 2013 5:15 PM[UAE] - UAE

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