Sunday, October 1, 2017

Nakheel to showcase $1.7bn projects at German expo

Dubai-based master developer Nakheel is making its way to Munich with a multitude of real estate investment opportunities worth more than Dh6.5 billion ($1.7 billion) as it exhibits at Expo Real in Germany for the first time.

The only UAE developer exhibiting at the event, Nakheel is showcasing a diverse range of investment opportunities including land plots for commercial, residential or hotel development as well as completed and off-plan residential units at prime locations across Dubai.
 
Nakheel, developer of iconic, global landmarks such as Palm Jumeirah, The World and the upcoming Deira Islands, is using Expo Real to highlight Dubai’s investment opportunities to the global real estate fraternity. More than 27,000 international investors have already bought 41,000 land plots or residential units, collectively worth over Dh120 billion ($32.6 billion), from Nakheel.
Europeans, who account for around 3,600 of customers, have spent Dh7.5 billion ($2.04 billion) with Nakheel.

Nakheel first visited Expo Real in 2015 through its then newly-formed joint venture partnership with Hamburg-based real estate broker partner, Engel & Volkers. Two years on, the company is back at the world-famous event with its own exhibition stand showcasing dozens of real estate projects including master communities, residential towers and villas and a range of hospitality and retail offerings.

The company currently has Dh50 billion ($13.6 billion) worth of projects under development in terms of infrastructure and construction costs, with investment opportunities collectively worth Dh6.5 billion ($1.7 billion) on show at Expo Real. Rental yields on Dubai properties range from 5 to 9 per cent – considerably higher than in many European cities.

Ali Rashid Lootah, chairman of Nakheel, said: “Since its inception in 2001, Nakheel has delivered ground-breaking, landmark developments that have helped to transform Dubai into a world-leading destination for living, tourism and trade. We continue to play a pivotal role in further shaping Dubai’s position as a top-flight destination and an unrivalled location for investment by creating a diverse collection of projects in line with the Government of Dubai’s vision for 2021.

“Since we first came to Expo Real in October 2015, we have announced record-breaking profits of Dh9.3 ($2.5 billion) for 2015 and 2016 combined, handed over 2,700 units to customers, completed and opened five new retail developments, delivered two hotels, signed international joint ventures on two resorts and launched a wide range of new projects across all real estate sectors. We have also awarded construction contracts worth Dh14 billion ($3.8 billion) over the last two years, including Dh11 billion ($2.9 billion) so far this year.

“We are delighted to be back in Munich, where we can access untapped markets and encourage well-informed, highly influential investors to become part of Dubai’s real estate sector.

“Dubai is one of the world’s fastest-growing cities, with tourist numbers set to hit 20 million a year by 2020 and the population expected to double to 5.2 million by 2030. These people will need homes to live in, hotels to stay at and places to shop, dine and spend leisure time. All this adds up to a plethora of opportunities for investors.”

The Nakheel stand at Expo Real features scale models of Palm Jumeirah and one of its newest landmarks – the iconic, 260 metre tall PALM360 twin-tower hotel and residential complex featuring 1,115-sq-m penthouses, the world’s largest rooftop infinity pool and, as the name suggests, 360 degree views of Dubai.

Also on show is Deira Islands, the new, 15.3-sq-km coastal city that is transforming Dubai’s Deira district into a world-class tourism, retail and entertainment hub. Nakheel has already invested over Dh7.5 billion ($2.04 billion) in infrastructure and project construction at the island, with more developments breaking ground soon. A diverse range of other investment opportunities is also showcased.

Visitors can find Nakheel's stand 422 in Hall C at the expo, which will take place from October 4 to 6. - TradeArabia News Service
 



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