Nakheel sees no reason to slow the pace of its development activity . . . . . . . . . . . Nakheel, one of the leading real-estate developers in UAE, sees no reason to slow the pace of its development activities and accordingly affirmed yesterday that it has already awarded new construction contracts for this year carrying the value of Dh7 billion. After that the developer reported net profits of Dh3.68 billion for 2014, Ali Rashid Lootah, Chairman of Nakheel said: “We are in a position to award construction contracts at better prices” “It has had an impact on creating healthier margins for us in 2014. Since 2010, the value of construction contracts awarded by us has touched Dh24 billion,” he added. Last year in December Nakheel revealed that more than a third of shop space at the Jumeirah Village`s Circle Mall in Dubai has been booked before even opening. Also in November the developer leased out more than 90% of Warsan Souk; its latest retail development in Dubai. Nakheel mainly aims to attract young Emirati entrepreneurs to occupy most of the 1,000 shops, 30 cafes and restaurants available in Warsan Souk and accordingly give an opportunity to new stores to open across the UAE. Both of these initiatives continue to boost the activity and expansion of small and medium enterprises (SMEs) across the country. SMEs are a major booster to the UAE economy, contributing to almost 60% of non-oil gross domestic product and 86% of private-sector employment, according to the Ministry of Economy. #egyptyard
Posted on: Thu, 22 Jan 2015 08:54:56 +0000
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