Nakheel, the property developer behind the Palm Jumeirah, said on Wednesday its net profit in the first nine months of this year rose 2.5% year-on-year to Dh4 billion thanks to growth across its current and future hospitality, residential, retail and leasing portfolio, which includes 17 hotels and serviced apartment complexes with 6,000 rooms.

Nakheel has signed more than Dh7bn-worth (£1.45bn) of agreements so far this year, including a 15km2 waterfront city currently under construction in Dubai.

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