Question

Nakheel is one of the world’s leading property developers, based in Dubai, United Arab Emirates. Nakheel has a portfolio of projects in Dubai across the residential, retail, hospitality and leisure sectors. Master developments include Palm Jumeirah, The World trade Center, Deira Islands, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Al Furjan, Warsan Village, Dragon City, International City, Jebel Ali Gardens and Nad Al Sheba. In the first quarter of 2017, Nakheel announced its highest annual net profits in the company’s history: AED4.96 billion in 2016 – a 13 per cent increase on the 2015 net profit of AED4.38 billion. Nakheel generated a net profit of AED955 million for the last quarter of 2016 – up 22 per cent on the AED781 million posted for the same period in 2015. All these happened even when real estate market is on lower side.

Explain how mangers take decision under turbulent conditions (risk and uncertainty) which lead to better utilization of resources