Dh3.2 billion projects set to be unveiled by Dubai’s Nakheel

By Angel Chan

DUBAI 5 September 2017: Dubai-based master developer Nakheel is gearing up to unveil a diverse range of projects – collectively worth more than Dh3.2 billion – at Cityscape Global 2017.

Nakheel will launch six new residential, retail and hospitality developments at four of its communities in Dubai – including its world-famous flagship master development, Palm Jumeirah – when Cityscape kicks off on 11 September.

The developer, whose projects currently span 15,000 hectares and accommodate more than 270,000 people, already has more than Dh50 billion worth of projects under way in terms of infrastructure and construction costs. It has awarded construction contracts to the tune of Dh7 billion so far this year, and expects the figure to exceed dh12 billion by the end of 2017.

Nakheel Chairman, Ali Rashid Lootah, said: “As the creator of the globally-famous, award-winning Palm Jumeirah and other iconic projects that have put Dubai on the global map, the Nakheel name is synonymous with current and future developments that will further enhance the city’s position as a world-leading location for living, leisure, business and tourism.

Nakheel already has more than 27,000 investors – from all over the world – who have collectively spent over AED110 billion on 41,000 land plots or built form units since the first properties went on sale in 2002. And there’s been an upturn in sales of ready properties, off-plan properties and land plots over the last few months, with continued interest from existing and new investors, the company said.