Dubai – Mubasher: Nakheel Properties has reported a 3.83% year-on-year drop in net profit during the first six months of 2018, recording AED 2.51 billion.

Nakheel delivered more than 451 units in H1-18, the Dubai-based developer said in a statement.

The company’s retail, leasing, hospitality, and asset management businesses have generated an annual revenue of AED 2.6 billion.

“Revenue from these sectors will continue to grow with the completion of retail and hospitality projects such as The Pointe, due to open this year, and The Night Market, Warsan Souk, The Palm Tower, and Nakheel Mall, due open in 2019,” Nakheel revealed.

In the six-month period ended 30 June, the developer inked AED 6 billion construction contracts.