{"id":789,"date":"2015-10-22T07:06:57","date_gmt":"2015-10-22T07:06:57","guid":{"rendered":"https:\/\/palmjumeirahguides.com\/?p=789"},"modified":"2015-10-22T07:11:22","modified_gmt":"2015-10-22T07:11:22","slug":"nakheel-shows-us-the-money-no-danger-of-running-out-of-funds-as-profit-surges","status":"publish","type":"post","link":"https:\/\/palmjumeirahguides.com\/the-news\/nakheel-shows-us-the-money-no-danger-of-running-out-of-funds-as-profit-surges\/","title":{"rendered":"Nakheel shows us the Money, No Danger of Running out of Funds as Profit Surges"},"content":{"rendered":"

None of\u00a0us want Nakheel to run out of money again, or at least leave the\u00a0gaping open holes and half finished buildings as it gasps for cash flow. Fortunate, as for the moment at least we do not seem to be in danger of this\u00a0–\u00a0despite the reported sales slowdown across Dubai.<\/p>\n

According to a release from the Palm Jumeirah master developer itself, net profits at Nakheel\u00a0rose to Dh780 million in the three months to the end of September, up from Dh750m for the same period a year earlier.\u00a0The increase was \u201cmainly due to continued strong performance by Nakheel\u2019s development business, with ongoing handovers of properties to customers\u201d.<\/p>\n

Nakheel\u00a0also reported a\u00a0Dh3.61 billion profit for the first nine months of 2015 \u2013 up 39 per cent on a year earlier.<\/p>\n

Unlike Emaar, which is publicly listed, Nakheel does not provide any\u00a0detailed breakdown of how its profit is\u00a0achieved.<\/p>\n

We do know that as\u00a0of 2014 the company had debts of\u00a0Dh4.4bn, down sharply<\/em> from the peak of\u00a0Dh12.3bn. The company paid back\u00a0Dh7.9bn of bank debt four years ahead of time.<\/p>\n

Nakheel\u2019s trade creditor sukuk of Dh4.4bn is due to be paid in August\u00a0next year.<\/p>\n

Despite the slowdown in the market the company has vowed to keep on investing. The only real clue as to where it will do so lies in this statement from chairman, Ali Rashid Lootah: “Our strategy of continuing to create more cash-generating assets will further boost our business and financial results in the coming years,”\u00a0 expanding its “retail, hospitality and residential leasing projects…”<\/p>\n

\"Ali-Rashid-Lootah\"<\/a><\/p>\n

That is, less one off developments to hand over, and more malls and leasing of properties the company aims to retain ownership of.<\/p>\n

Nakheel is presently developing retail projects on the Palm (Nakheel Mall, The Golden Mile, The Pointe), for the Deira Mall, for the Night Souk on Deira Islands, for Warsan Souk, Al Khail Avenue, The Circle Mall, Dragon City, and Ibn Battuta. It aims to be the largest retailer in the UAE.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

None of\u00a0us want Nakheel to run out of money again, or at least leave the\u00a0gaping open holes and half finished buildings as it gasps for cash flow. Fortunate, as for the moment at least we do not seem to be in danger of this\u00a0–\u00a0despite the reported sales slowdown across Dubai.<\/p>\n

According to a release from the Palm Jumeirah master developer itself, net profits at Nakheel\u00a0rose to Dh780 million in the three months to the end of September, up from Dh750m for the same period a year earlier.\u00a0The increase was \u201cmainly due to continued strong performance by Nakheel\u2019s development business, with ongoing handovers of properties to customers\u201d.<\/p>\n

Nakheel\u00a0also reported a\u00a0Dh3.61 billion profit for the first nine months of 2015 \u2013 up 39 per cent on a year earlier.<\/p>\n

Unlike Emaar, which is publicly listed, Nakheel does not provide any\u00a0detailed breakdown of how its profit is\u00a0achieved.<\/p>\n

We do know that as\u00a0of 2014 the company had debts of\u00a0Dh4.4bn, down sharply from the peak of\u00a0Dh12.3bn. The company paid back\u00a0Dh7.9bn of bank debt four years ahead of time.<\/p>\n

Nakheel\u2019s trade creditor sukuk of Dh4.4bn is due to be paid in August\u00a0next year.<\/p>\n

Despite the slowdown in the market the company has vowed to keep on investing. The only real clue as to where it will do so lies in this statement from chairman, Ali Rashid Lootah: “Our strategy of continuing to create more cash-generating assets will further boost our business and financial results in the coming years,”\u00a0 expanding its “retail, hospitality and residential leasing projects…”<\/p>\n<\/p>\n

That is, less one off developments to hand over, and more malls and leasing of properties the company aims to retain ownership of.<\/p>\n

Nakheel is presently developing retail projects on the Palm (Nakheel Mall, The Golden Mile, The Pointe), for the Deira Mall, for the Night Souk on Deira Islands, for Warsan Souk, Al Khail Avenue, The Circle Mall, Dragon City, and Ibn Battuta. It aims to be the largest retailer in the UAE.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"author":1,"featured_media":790,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[57],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nNakheel shows us the Money, No Danger of Running out of Funds as Profit Surges - Palm Jumeirah Guides<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/palmjumeirahguides.com\/the-news\/nakheel-shows-us-the-money-no-danger-of-running-out-of-funds-as-profit-surges\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_US\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Nakheel shows us the Money, No Danger of Running out of Funds as Profit Surges - Palm Jumeirah Guides\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"None of\u00a0us want Nakheel to run out of money again, or at least leave the\u00a0gaping open holes and half finished buildings as it gasps for cash flow. Fortunate, as for the moment at least we do not seem to be in danger of this\u00a0–\u00a0despite the reported sales slowdown across Dubai. According to a release from the Palm Jumeirah master developer itself, net profits at Nakheel\u00a0rose to Dh780 million in the three months to the end of September, up from Dh750m for the same period a year earlier.\u00a0The increase was \u201cmainly due to continued strong performance by Nakheel\u2019s development business, with ongoing handovers of properties to customers\u201d. Nakheel\u00a0also reported a\u00a0Dh3.61 billion profit for the first nine months of 2015 \u2013 up 39 per cent on a year earlier. Unlike Emaar, which is publicly listed, Nakheel does not provide any\u00a0detailed breakdown of how its profit is\u00a0achieved. We do know that as\u00a0of 2014 the company had debts of\u00a0Dh4.4bn, down sharply from the peak of\u00a0Dh12.3bn. The company paid back\u00a0Dh7.9bn of bank debt four years ahead of time. Nakheel\u2019s trade creditor sukuk of Dh4.4bn is due to be paid in August\u00a0next year. Despite the slowdown in the market the company has vowed to keep on investing. The only real clue as to where it will do so lies in this statement from chairman, Ali Rashid Lootah: “Our strategy of continuing to create more cash-generating assets will further boost our business and financial results in the coming years,”\u00a0 expanding its “retail, hospitality and residential leasing projects…” That is, less one off developments to hand over, and more malls and leasing of properties the company aims to retain ownership of. Nakheel is presently developing retail projects on the Palm (Nakheel Mall, The Golden Mile, The Pointe), for the Deira Mall, for the Night Souk on Deira Islands, for Warsan Souk, Al Khail Avenue, The Circle Mall, Dragon City, and Ibn Battuta. It aims to be the largest retailer in the UAE.    \" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/palmjumeirahguides.com\/the-news\/nakheel-shows-us-the-money-no-danger-of-running-out-of-funds-as-profit-surges\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Palm Jumeirah Guides\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2015-10-22T07:06:57+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:modified_time\" content=\"2015-10-22T07:11:22+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:image\" content=\"https:\/\/palmjumeirahguides.com\/wp-content\/uploads\/2015\/10\/AED-dirhams-1024x681.jpg\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta property=\"og:image:height\" content=\"681\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"Orwell Huxley\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"Orwell Huxley\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/palmjumeirahguides.com\/the-news\/nakheel-shows-us-the-money-no-danger-of-running-out-of-funds-as-profit-surges\/\",\"url\":\"https:\/\/palmjumeirahguides.com\/the-news\/nakheel-shows-us-the-money-no-danger-of-running-out-of-funds-as-profit-surges\/\",\"name\":\"Nakheel shows us the Money, No Danger of Running out of Funds as Profit Surges - Palm Jumeirah Guides\",\"isPartOf\":{\"@id\":\"https:\/\/palmjumeirahguides.com\/#website\"},\"datePublished\":\"2015-10-22T07:06:57+00:00\",\"dateModified\":\"2015-10-22T07:11:22+00:00\",\"author\":{\"@id\":\"https:\/\/palmjumeirahguides.com\/#\/schema\/person\/6d7144002b92fef818ab0a9827dab132\"},\"breadcrumb\":{\"@id\":\"https:\/\/palmjumeirahguides.com\/the-news\/nakheel-shows-us-the-money-no-danger-of-running-out-of-funds-as-profit-surges\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/palmjumeirahguides.com\/the-news\/nakheel-shows-us-the-money-no-danger-of-running-out-of-funds-as-profit-surges\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/palmjumeirahguides.com\/the-news\/nakheel-shows-us-the-money-no-danger-of-running-out-of-funds-as-profit-surges\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/palmjumeirahguides.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Nakheel shows us the Money, No Danger of Running out of Funds as Profit Surges\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/palmjumeirahguides.com\/#website\",\"url\":\"https:\/\/palmjumeirahguides.com\/\",\"name\":\"Palm Jumeirah Guides\",\"description\":\"The Palm Jumeirah\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/palmjumeirahguides.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/palmjumeirahguides.com\/#\/schema\/person\/6d7144002b92fef818ab0a9827dab132\",\"name\":\"Orwell Huxley\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/palmjumeirahguides.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/palmjumeirahguides.com\/wp-content\/uploads\/avatars\/1\/08fd5de9248523f5820ff09ad50155b3-bpfull.jpg\",\"contentUrl\":\"https:\/\/palmjumeirahguides.com\/wp-content\/uploads\/avatars\/1\/08fd5de9248523f5820ff09ad50155b3-bpfull.jpg\",\"caption\":\"Orwell Huxley\"},\"description\":\"A journalist and editor who has lived in Dubai for 20 years and on the Palm for the last 6. Having bought his own home on the island, he really feels it is home, loves it, and believes it could well become the best place on the planet.\",\"url\":\"https:\/\/palmjumeirahguides.com\/author\/davidwestley\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Nakheel shows us the Money, No Danger of Running out of Funds as Profit Surges - Palm Jumeirah Guides","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/palmjumeirahguides.com\/the-news\/nakheel-shows-us-the-money-no-danger-of-running-out-of-funds-as-profit-surges\/","og_locale":"en_US","og_type":"article","og_title":"Nakheel shows us the Money, No Danger of Running out of Funds as Profit Surges - Palm Jumeirah Guides","og_description":"None of\u00a0us want Nakheel to run out of money again, or at least leave the\u00a0gaping open holes and half finished buildings as it gasps for cash flow. Fortunate, as for the moment at least we do not seem to be in danger of this\u00a0–\u00a0despite the reported sales slowdown across Dubai. According to a release from the Palm Jumeirah master developer itself, net profits at Nakheel\u00a0rose to Dh780 million in the three months to the end of September, up from Dh750m for the same period a year earlier.\u00a0The increase was \u201cmainly due to continued strong performance by Nakheel\u2019s development business, with ongoing handovers of properties to customers\u201d. Nakheel\u00a0also reported a\u00a0Dh3.61 billion profit for the first nine months of 2015 \u2013 up 39 per cent on a year earlier. Unlike Emaar, which is publicly listed, Nakheel does not provide any\u00a0detailed breakdown of how its profit is\u00a0achieved. We do know that as\u00a0of 2014 the company had debts of\u00a0Dh4.4bn, down sharply from the peak of\u00a0Dh12.3bn. The company paid back\u00a0Dh7.9bn of bank debt four years ahead of time. Nakheel\u2019s trade creditor sukuk of Dh4.4bn is due to be paid in August\u00a0next year. Despite the slowdown in the market the company has vowed to keep on investing. The only real clue as to where it will do so lies in this statement from chairman, Ali Rashid Lootah: “Our strategy of continuing to create more cash-generating assets will further boost our business and financial results in the coming years,”\u00a0 expanding its “retail, hospitality and residential leasing projects…” That is, less one off developments to hand over, and more malls and leasing of properties the company aims to retain ownership of. Nakheel is presently developing retail projects on the Palm (Nakheel Mall, The Golden Mile, The Pointe), for the Deira Mall, for the Night Souk on Deira Islands, for Warsan Souk, Al Khail Avenue, The Circle Mall, Dragon City, and Ibn Battuta. It aims to be the largest retailer in the UAE.    ","og_url":"https:\/\/palmjumeirahguides.com\/the-news\/nakheel-shows-us-the-money-no-danger-of-running-out-of-funds-as-profit-surges\/","og_site_name":"Palm Jumeirah Guides","article_published_time":"2015-10-22T07:06:57+00:00","article_modified_time":"2015-10-22T07:11:22+00:00","og_image":[{"width":1024,"height":681,"url":"https:\/\/palmjumeirahguides.com\/wp-content\/uploads\/2015\/10\/AED-dirhams-1024x681.jpg","type":"image\/jpeg"}],"author":"Orwell Huxley","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Orwell Huxley","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/palmjumeirahguides.com\/the-news\/nakheel-shows-us-the-money-no-danger-of-running-out-of-funds-as-profit-surges\/","url":"https:\/\/palmjumeirahguides.com\/the-news\/nakheel-shows-us-the-money-no-danger-of-running-out-of-funds-as-profit-surges\/","name":"Nakheel shows us the Money, No Danger of Running out of Funds as Profit Surges - Palm Jumeirah Guides","isPartOf":{"@id":"https:\/\/palmjumeirahguides.com\/#website"},"datePublished":"2015-10-22T07:06:57+00:00","dateModified":"2015-10-22T07:11:22+00:00","author":{"@id":"https:\/\/palmjumeirahguides.com\/#\/schema\/person\/6d7144002b92fef818ab0a9827dab132"},"breadcrumb":{"@id":"https:\/\/palmjumeirahguides.com\/the-news\/nakheel-shows-us-the-money-no-danger-of-running-out-of-funds-as-profit-surges\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/palmjumeirahguides.com\/the-news\/nakheel-shows-us-the-money-no-danger-of-running-out-of-funds-as-profit-surges\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/palmjumeirahguides.com\/the-news\/nakheel-shows-us-the-money-no-danger-of-running-out-of-funds-as-profit-surges\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/palmjumeirahguides.com\/"},{"@type":"ListItem","position":2,"name":"Nakheel shows us the Money, No Danger of Running out of Funds as Profit Surges"}]},{"@type":"WebSite","@id":"https:\/\/palmjumeirahguides.com\/#website","url":"https:\/\/palmjumeirahguides.com\/","name":"Palm Jumeirah Guides","description":"The Palm Jumeirah","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/palmjumeirahguides.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/palmjumeirahguides.com\/#\/schema\/person\/6d7144002b92fef818ab0a9827dab132","name":"Orwell Huxley","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/palmjumeirahguides.com\/#\/schema\/person\/image\/","url":"https:\/\/palmjumeirahguides.com\/wp-content\/uploads\/avatars\/1\/08fd5de9248523f5820ff09ad50155b3-bpfull.jpg","contentUrl":"https:\/\/palmjumeirahguides.com\/wp-content\/uploads\/avatars\/1\/08fd5de9248523f5820ff09ad50155b3-bpfull.jpg","caption":"Orwell Huxley"},"description":"A journalist and editor who has lived in Dubai for 20 years and on the Palm for the last 6. Having bought his own home on the island, he really feels it is home, loves it, and believes it could well become the best place on the planet.","url":"https:\/\/palmjumeirahguides.com\/author\/davidwestley\/"}]}},"jetpack_featured_media_url":"https:\/\/palmjumeirahguides.com\/wp-content\/uploads\/2015\/10\/AED-dirhams.jpg","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p6OApE-cJ","_links":{"self":[{"href":"https:\/\/palmjumeirahguides.com\/wp-json\/wp\/v2\/posts\/789"}],"collection":[{"href":"https:\/\/palmjumeirahguides.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/palmjumeirahguides.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/palmjumeirahguides.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/palmjumeirahguides.com\/wp-json\/wp\/v2\/comments?post=789"}],"version-history":[{"count":7,"href":"https:\/\/palmjumeirahguides.com\/wp-json\/wp\/v2\/posts\/789\/revisions"}],"predecessor-version":[{"id":799,"href":"https:\/\/palmjumeirahguides.com\/wp-json\/wp\/v2\/posts\/789\/revisions\/799"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/palmjumeirahguides.com\/wp-json\/wp\/v2\/media\/790"}],"wp:attachment":[{"href":"https:\/\/palmjumeirahguides.com\/wp-json\/wp\/v2\/media?parent=789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/palmjumeirahguides.com\/wp-json\/wp\/v2\/categories?post=789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/palmjumeirahguides.com\/wp-json\/wp\/v2\/tags?post=789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}