Nakheel to launch projects worth $871m

04 September 2017

Developer will debut projects at this year’s Cityscape Global exhibition

Dubai developer Nakheel Properties is set to launch AED3.2bn ($871m) of new schemes at the upcoming property exhibition Cityscape Global in Dubai.

A company statement said the developer will launch six new residential, retail and hospitality projects at four of its existing communities in Dubai. This includes projects on the Palm Jumeirah.

Cityscape will run from 11-13 September.

The latest announcement is understood to be part of the company’s plans to develop AED3bn of hospitality projects, which include 16 new hotels and serviced apartment complexes with 5,300 rooms, which it announced earlier this year. Adding new hotel assets is part of Nakheel’s strategy of growing its recurring revenues.

Nakheel’s largest award this year was the AED4.2bn deal secured by the local United Engineering Construction (UNEC) for the construction of Deira Mall on the Deira Islands development.

This article has been unlocked to allow non-subscribers to sample MEED’s content for FREE. MEED provides exclusive news, data and analysis about the Middle East every day. Subscribe to MEED to have full access to Middle East business intelligence. Click here

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications