Dubai government-owned developer Nakheel said on Thursday first-half profit surged to 2.83 billion dirhams ($770.5 million) on higher sales.

Net income in the first half of 2007 was 121.1 million dirhams, according to a statement on the website of the Dubai International Financial Exchange (DIFX).

Nakheel listed 3.52 billion dirhams of Islamic bonds on the exchange in 2006.

Revenue from sales to external customers surged almost 6.95 billion dirhams from 2.17 billion in the corresponding period last year, Nakheel said.

Source: Trade Arabia News