Nakheel, one of Dubai’s major property developers, is confidently recovering from the 2009 debt crisis. REUTERS/Alexander Cornwell
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Property developer Nakheel wants recurring income to increase to more than 50 percent of all revenue by 2021 as it opens more shopping malls in Dubai, its chairman told Reuters. Nakheel, developer of the palm-shaped islands in the emirate, expects leasable retail space to more than triple to 17 million square feet in the next three to five years from 4.5 million square feet. Recurring income has increased 213 percent to 2.5 billion dirhams ($680.68 million) since 2010 .Lootah said Nakheel was paying contractors on time.
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