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Nakheel profts soar 36% in H1

Dubai's state-owned developer Nakheel Properties has said its first-half profits jumped 36%, buoyed by property handovers on several projects, Reuters has reported. The developer said net profit climbed to Dhs767m ($208.82m) in the first six months of the year, up from Dhs562m in the year-ago period. Revenues rose to Dhs3.1bn in the first half, up 112% from the corresponding period a year ago, Nakheel said.