Riu Hotels, Nakheel sign JV

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Riu Hotels, Nakheel sign JV

In its strategy of expansion into the hospitality business, Nakheel is planning 10 hotels across Dubai. The first opened earlier this month, and six more have been announced or signed.

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Overall gross margin increased to 28.2 per cent. Gross margin from core businesses rose to 29.3 per cent from 28.4 per cent in 2014 driven by an increase in tile sales. This was coupled with higher sanitaryware and tableware sales.

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DSI posts record Q4 profits surge

The Dubai-based construction major normalised its profitability following the third quarter 2015 one-off provisions and posted a steep jump in net profit of Dh14.7 million in the three months to December 31, compared with a profit of Dh3.8 million in the year-earlier period.

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Du records Dh1.94 billion income in '15

Du made a net profit of Dh461.0 million ($125.5 million) in the three months to December 31, down from Dh512.7 million in the year-earlier period, according to Reuters' calculations based on previous financial statements.

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