Dubai’s Nakheel to showcase real estate worth $2.5 billion

By Sheena Amos

DUBAI 12 March 2018: Dubai-based master developer Nakheel is heading back to Mipim property summit, for third consecutive year, to showcase a host of real estate opportunities, collectively worth more than US$2.5 billion.

Creator of the world-famous Palm Jumeirah and other globally-renowned Dubai real estate projects, Nakheel is in Cannes, France to encourage more international investors – who already account for more than 28,000 Nakheel customers, with investments of almost $30 billion – to become part of Dubai’s growing real estate sector.

Nakheel comes to this year’s show with a new range of real estate investment opportunities at prime locations across Dubai. Among them are residential units – some ready for occupation – offering rental yields of up to nine percent, and land plots for commercial, residential or hotel development.

Since first attending Mipim in 2016, Nakheel has awarded construction contracts worth $3 billion, delivered two hotels, opened new retail and entertainment destinations and launched a host projects across the residential, retail and hospitality sectors, many of which are on show in Cannes this year. The company currently has nearly $14 billion worth of projects under construction or development.

Nakheel’s arrival at Mipim comes less than a month after Dubai announced that more than 15.8 million tourists visited the emirate in 2017 – up 6.2 percent on 2016. The government is aiming for 20 million tourists a year by 2020 as part of its overall vision for Dubai, with Expo 2020 alone expected to attract 25 million people. Dubai is the fourth most visited city in the world and home to the world’s busiest airport with 88.2 million international passengers in 2017. Currently, three million people live in the emirate, with the population expected to top five million by 2030.

Sanjay Manchanda, Chief Executive Officer of Nakheel, said: “The figures speak for themselves. Innovative thinking and bold ambition have turned Dubai into one of the most successful, fastest-growing cities in the world.

“Nakheel is proud to play a key role in the city’s achievements, and continues to spearhead ground-breaking, landmark developments that set new standards in creativity, engineering and design. Our large and diverse range of existing and upcoming projects is pivotal to further enhancing Dubai’s position as a global hub for living, trade, tourism, leisure – and investment.

“We are delighted to return to Cannes and honoured to represent Dubai for a third consecutive year. We look forward to building on the success of our previous visits as we further highlight Dubai’s ever-growing, unrivalled investment opportunities for investment to MIPIM’s highly knowledgeable, influential audience.”

The centrepiece of Nakheel’s marquee at Mipim is a scale model of the world-famous, award-winning Palm Jumeirah, home to top-flight hotels and resorts, luxury apartments and waterside homes and a growing range of new retail and leisure attractions. PALM360, an iconic, twin-tower hotel and residential complex soaring 260 metres (853 feet) above the island, is also on show. PALM360 comprises a Raffles hotel, Raffles-branded residences including 16 penthouses each spanning 1,115 square metre (12,000 sq ft), the world’s largest rooftop infinity pool and, as the name suggests, 360-degree views of Dubai.

Also featured is the 15.3 sq km Deira Islands waterfront city, where Nakheel has already invested more than USD2.3 billion in infrastructure and project construction. Set to become a world-class destination for tourism, leisure and retail, Deira Islands is home to the Middle East’s biggest mall – Deira Mall – for which Nakheel awarded a construction contract for USD1.1 billion last month.

To find out more about Dubai, Nakheel and the investment opportunities on offer, visit stand C20, MIPIM, Palais des Festivals, Cannes, 13-16 March 2018.