1. Home
  2. >
 Ali Rashid Lootah

 Ali Rashid Lootah

 Chairman, Nakheel
 Talal Al Dhiyebi
Osama Bishai

Ali Rashid Lootah and his colleagues at Nakheel have certainly enjoyed a healthy start to the year. The UAE-based developer achieved a net profit of $400m (AED1.47bn) in Q1 2016, 8% higher than the $367m (AED1.35bn) achieved during the corresponding period of last year.

Nakheel handed over 536 units that it had completed to customers during the first three months of 2016, with its retail, residential leasing, and hospitality businesses all registering a strong performance.

During the same period, Lootah’s team also opened Dragon Mart 2, almost doubling the size of the developer’s Dragon Mart mall complex to 204,368 sqm.

Commenting on Nakheel’s Q1 2016 performance, Lootah noted: “Our first quarter results are very encouraging and reflect investor confidence in Dubai and its real estate sector. We remain confident and will continue to execute our business plan, in turn contributing positively to Dubai’s real estate sector in line with the government’s 2021 Vision.”

Projects are also under construction at Nakheel’s Palm Jumeirah, Deira Islands, Jumeirah Village, and Warsan Village developments.

Other player

Kez Taylor
Yu Tao
Hamish Tyrwhitt
Arabtec Holding / Depa Group
Emad Azmy
Emad Azmy
Dr Eng Sani Sener
TAV Group
Samer Khoury
Consolidated Contractors Company (CCC)
Mohamed Alabbar
Emaar Properties
Stephen Flint
Khansaheb Civil Engineering
Patrick McKinney
BAM International


Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the
Construction industry conversations around digitisation must evolve
The Middle East construction industry’s approach to tech must evolve and focus on how can


CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 765
Jun 29, 2020