Ali Rashid Lootah, chairman of Nakheel has said Dubai’s property developer is a targeting a 15% increase in annual profit this year, as it launches new projects and expands its leasing income, Reuters has reported. “Our profit will be better (higher) than last year – we are targeting 15% growth (in profit),” Lootah told reporters in Dubai at a press conference to announce the launch of plot sales on Nakheel’s Deira Islands project, which consists of four islands. Nakheel hopes to sell 94 plots, for 79 hotels and 15 resorts, to third-party developers on the first two islands. These range from 50,000 to 670,000 sq ft. Lootah declined to reveal how much money Nakheel expects to raise from the sales.
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