Dubai: Dubai property developer Nakheel posted a net profit of Dh2.95 billion for the first half of this year, up four per cent compared to the same period in 2015.

The company did not give revenue for the period.

Nakheel handed over 1,177 units during the first six months of this year, with its retail, residential leasing and hospitality businesses all performing strongly, it said in a statement on Wednesday.

The company plans to hand over more residential units to customers during the second half of 2016, starting at Azure Residences on Palm Jumeirah, with handovers at Jumeriah Park, Jumeirah Islands, Al Furjan and Warsan Village to follow.