Nakheel to unveil projects valued at AED3.2 billion

4th September, 2017 (WAM) -- Dubai-based master developer Nakheel is gearing up to unveil a diverse range of projects, with a collective value of collectively more than AED3.2 billion, at Cityscape Global 2017 next week, with the launch of six new residential, retail and hospitality developments at four of its communities in Dubai, including its world-famous flagship master development, Palm Jumeirah.

The developer, whose projects currently spans 15,000 hectares and accommodates more than 270,000 people, already has more than AED50 billion worth of projects under way in terms of infrastructure and construction costs. It has awarded construction contracts worth AED7 billion so far this year, and expects the figure to exceed AED12 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.

"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. 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 on 41,000 land plots or built form units since the first properties went on sale in 2002. There has 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.

Ali Rashid Lootah added, "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. We look forward to showcasing our new projects at this world-famous real estate event."