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Nakheel profit soars despite fewer project completions

22.01.2015
Nakheel profit soars despite fewer project completions
According to the government-owned developer, profits were higher as a result of the fact that fewer homes had been completed than in the previous year with 1,117 units finished in 2014. In 2013, it had handed over 3,150 units. Leading developer Nakheel has seen a 43% hike in profits for the last year, despite a fall in revenue, The National reported. Net profits went up to AED3.68 billion until the end of December, while revenues fell to AED7 billion. According to the government-owned developer, profits were higher as a result of the fact that fewer homes had been completed than in the previous year with 1,117 units finished in 2014. In 2013, it had handed over 3,150 units. Nakheel reported that its handovers included 132 homes at Palm Jumeirah’s Palma Residences and Palm Views, the first new projects it has launched since its restructuring. “2014 was our biggest year yet in terms of financial performance and achievements,” the Nakheel chairman Ali Rashid Lootah said yesterday. “Not only did we clear all AED7.9bn of our outstanding bank debt four years ahead of time, we also completed and delivered our first new project – Palma Residences – since restructuring.”
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Lease process (Rent out)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
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Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

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Lease process (Rent)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.
Real estate search.

Up to 5 days

Real estate search.

Selection of optimal options.

Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Property Selection

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Customer charges:
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  • 4% - registration of the transaction at registration
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Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

None

the management process
Contract of the owner and agency

1 hour

Contract of the owner and agency
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1 year

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1 day

Reporting
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5% of the annual rental price

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1 hour

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From 3 days

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1 Week

Registration of the contract of purchase / sale
Expenses of the investor:
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