Dubai developer says all stalled projects would be reviewed if there is demand
Dubai developer Nakheels CEO, Sanjay Manchanda says he hopes something will be put in place on Palm Jebel Ali by the start of Expo 2020. The firm says projects that stalled after the financial downturn are still in the pipeline and could be revived.
Speaking at MEEDs Destination Dubai 2020 conference held in Dubai on 28 January, Manchanda said the developer was reviewing its projects and where we feel there is a lot of demand and traction coming through, those schemes would be picked up again.
On Palm Jebel Ali, Manchanda said as and when the demand is there, that project will also be on the market. He told delegates that hopefully something will have been built on the man-made island by the time Dubai hosts the World Expo 2020.
Pointing to the recent announcement of plans for the six-island cluster called the Heart of Europe on The World development, he said Nakheels planning office was now inundated with planning applications for other World islands.
Asked about the Waterfront development, he said the situation was similar to that of the World islands, where planning applications to Nakheel would be considered. There is not much work on the Waterfront at the moment, he said. However, he added that developers were showing interest in pushing ahead with schemes at the development.
Manchanda also outlined Nakheels four major projects on Palm Jumeirah. The 418,000-square-metre, AED2.5bn ($680m) Nakheel Mall, which was tendered late last year, is expected to open in 2016. The Pointe, on the tip of the Palm and opposite the Atlantis, will be 136,000 sq m in size. It was tendered in September last year. The Boardwalk will cover 11 kilometres of crescent on the Palm. It will have two piers at each end, both of which will stretch 100 metres into the sea. Finally, Palm West Beach will be a 1.5km park that includes 14 restaurants.
More from MEED Destination Dubai
- Nakheel to build nine hotels over next five years
- DMCC still considering financing options for Burj 2020 tower
- Arabtec plans further expansion overseas
- Construction to start on Burj 2020 tower in 2015
- Dubai Expo will require $8.8bn investment
- Dubai plans to use local and foreign funding for Expo projects
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