04/09/2017 – News / Construction / Infrastructure / Nakheel / Cityscape Global / Dubai
Dubai’s Nakheel to unveil projects worth $870m
Dubai-based master developer Nakheel is gearing up to unveil a diverse range of projects – collectively worth more than AED3.2 billion (US$870 million) – at next week’s 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 11th September.
The developer, whose projects currently span 15,000 hectares and accommodate more than 270,000 people, already has more than AED50bn (US$13.6bn) worth of projects under way in terms of infrastructure and construction costs. It has awarded construction contracts to the tune of AED7bn (US$1.9bn) so far this year, and expects the figure to exceed AED12bn (nearly US$3.3bn) by the end of 2017.
“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,” said Nakheel Chairman, Ali Rashid Lootah. “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.
“We continue to deliver and diversify in line with government goals and our own business strategy,” he continued. “And while development remains our core business, we are focusing 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 already has more than 27,000 investors – from all over the world – who have collectively spent over AED110 billion (almost US$30bn) 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.
“Cityscape Global will see the launch of a diverse line-up of Nakheel developments unique opportunities for local and international investors looking to become part of Dubai’s exciting future,” Mr Lootah said: “We look forward to showcasing our new projects at this world-famous real estate event.”
Find out more at stand S2B10, at Cityscape Global, 11-13 September.