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Nakheel to launch Dh3.2b worth of projects

These are to be announced at the upcoming Cityscape Global event from September 11

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Dubai: Nakheel will be launching six projects with a combined value of Dh3.2 billion at Cityscape Global next week, including one at its flagship Palm Jumeirah. The master-developer’s current portfolio spans 15,000 hectares and Dh50 billion worth of projects.

The new additions will also extend to retail and hospitality, both of which are now integral to the master-developer’s longer term plans to grow its top-line numbers as well as yields.

“At Cityscape, we will demonstrate our pivotal role in realising the Government of Dubai’s vision for 2021, and highlight Dubai’s unrivalled investment opportunities for investors,” said Ali Rashid Lootah, Nakheel’s Chairman. “We continue to deliver and diversify in line with government goals and our own business strategy. And while development remains our core business, we are focussing on growing our hospitality, retail and leasing divisions by creating a range of new hotels, resorts, F&B destinations, malls and tourists attractions across the city.”

Nakheel’s properties have been snapped by more than 27,000 investors to date. In value terms, they have collectively spent over Dh110 billion on 41,000 plots or built-form units since the first properties went on sale in 2002. There has also been an upturn in sales of ready properties, off-plan units and plots in recent months, the company said in a statement.

Nakheel has awarded construction contracts worth Dh7 billion this year and expects it to exceed Dh12 billion by year-end.

Nair, M. (2017, August 21). Developer gets on with last residential tower plot in JLT. Gulf News. Retrieved from http://gulfnews.com/business/property/nakheel-to-launch-dh3-2b-worth-of-projects-1.2084618


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