Nakheel posted a net profit of AED 1.48bn ($403mn) for the first quarter of 2017, barely changed from the AED 1.47bn booked for the same period of 2016.
However if the developer maintains this momentum it will be in for another strong year having reported booked record earnings of AED 4.96bn in 2017, 13 percent higher than the previous year.
The company said it handed over 412 units to customers during the first quarter of the year, with its retail, hospitality and residential leasing businesses performed solidly.
Construction contracts worth AED 5bn were handed out during the period with a further AED 4bn of awards expected in the three months to June 30 as the developer continues to expand on all fronts.
As of now, the company has four million square feet of retail space in operation with another 13 million sq ft under development.
Two Nakheel hotels are operational with 16 more under way, and its residential leasing portfolio is set to double to over 37,000 units under ongoing expansion plans.
Nakheel Chairman Ali Rashid Lootah said: Our first quarter results are as forecast. We continue to execute our long term business plan, in turn contributing positively to Dubais real estate sector. As ever, we thank our investors and the Government of Dubai for their ongoing trust in and support for Nakheel.