Nakheel Lands is preparing for a package of development projects for residential, hotel and entertainment investments within the Dubai plan

Dubai

The development lands of Nakheel Properties are preparing to launch a variety of residential, hotel and entertainment projects during the next few months before the end of the current year 2023, to join the urban plan for the development of Dubai.

And the development lands of “Nakheel” acquired a clear share of land sales in Dubai from the beginning of this year until the end of June, as it touched about 9.4 billion dirhams, equivalent to about 14% of the total land sales in Dubai during the first half of the year 2023, which amounted to approximately 67.5 billion. dirhams, which reflects the strong demand for the company’s lands, which have achieved high investment feasibility.

The biggest share of the cake will be distributed to these projects; On the lands of beach fronts such as “Deira Islands”, “Palm Jumeirah”, “Palm Jebel Ali” and “The World Islands”, while the rest of the projects will focus on other areas belonging to “Nakheel” such as “Jumeirah Islands” and “Jumeirah Village Circle” and Jumeirah Village Triangle, International City, Al Furjan and Jumeirah Park.

Nakheel will develop a group of projects with the aim of offering them for sale to investors and buyers or adding them to its portfolio of income-generating assets in the long term, while landowners and secondary developers within the company’s areas will present their innovative designs and ideas in terms of residential, hotel and mixed-use products. .

Sales distribution

The “Palm Jumeirah” topped the list of land sales in terms of value by 4.261 billion dirhams, followed by the “Jumeirah Village Circle” area with about 1.27 billion dirhams, then “Jumeirah Park” third with 855 million dirhams, and “Jumeirah Islands” ranked fourth with a value 724 million dirhams, and in fifth place came “Deira Islands”, with a value of 687 million dirhams.

Ismail Al Hammadi

The value of land sales in “Al Furjan” amounted to 599 million dirhams, occupying the sixth place, then the seventh “Jumeirah Village Triangle” area, with a value of 358 million dirhams, followed by the eighth “The World Islands” with a value of 226 million dirhams, and in the ninth and tenth places came the “International City”. » and «Dubai Water Front» with sales of 364 and 52 million dirhams, respectively.

Successes and achievements

Ismail Al Hammadi, founder and CEO of Al Rowad Real Estate Company, said: “Nakheel has recorded many successes and achievements in terms of urban development, infrastructure, projects and beach destinations, which have become a destination for investors, international companies and wealth owners looking for distinctive and luxurious real estate products.”

Al-Hammadi pointed out that Nakheel owns a bank of qualitative lands with beach destinations such as The World Islands, Deira Islands and Palm Jebel Ali, which will be a major destination for investors, development companies and international hotel brands during the coming period. It is likely that a variety of projects will be announced during the next few months before the end of 2023, specifically in “Palm Jebel Ali” and “Deira Islands”, which is the only freehold project in the “Deira” region.

“Deira Islands”

And observers in the local real estate market in Dubai reported that Nakheel and secondary developers will announce a package of projects of various uses within the “Deira Islands” area, which will include residential, hotel and mixed-use facilities, in addition to entertainment and everything related to green spaces and infrastructure. Their number is between 8 and 10 projects.

The “Deira Islands” currently includes many hotel, commercial and recreational facilities in operation, such as the “Centara Mirage Beach Resort”, “Rio Dubai Hotel”, “Marfa Market” and “Deira Islands Beach”. The construction works will also be revived in the “Deira Islands Mall” project.

In August 2022, Nakheel announced a new vision for the Dubai Islands project, which aims to redefine concepts and lifestyles on the waterfront, as the project will consist of five islands with a total area of 17 square kilometers. The Dubai Islands project will contribute to establishing the emirate as a preferred global destination for residents, visitors and investors, and is in line with the Dubai Urban Plan 2040.

The islands will host more than 80 resorts and hotels, including luxury resorts, health destinations, “boutique” hotels, and other family and environmentally friendly hotels, thus forming a pillar that supports Dubai’s ambition to enhance the tourism and hospitality sector by increasing the number of hotel rooms available in the emirate. The “Dubai Islands” project also enhances the beach areas and areas designated for public parks in the emirate, as it contains more than 20 kilometers of picturesque beaches.