Nakheel, one of the world's largest real estate developers based in Dubai, has recently informed that its sales for the year 2008 is already showing a threefold increase as compared to 2007's full-year figures.
The developer’s own targets have been exceeded as till date, more than 6,100 Nakheel units have been sold (97%) or reserved (3%). Talking about the unit sales for 2008, there were sales of more than two third apartments (68%), over a quarter villa sales (27%) and 5% land plot sales.
World's largest producer of roses, Karuturi Global, has informed that the company is raising $100 million by selling a 15% stake in its Dubai-based subsidiary.
According to sources, the company will sell the stake in Karuturi Overseas to a private equity (PE) player valuing the Dubai-based subsidiary at over $650 million after the acquisition.
The Dubai-based unit is the holding company for all the African business of Karuturi Global and added about 90% of its revenues and net profit. The firm is presently valued at less than US$ 250 million.
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