Dubai – Mubasher: Nakheel on Sunday announced that it was taking part at the world’s premier property summit MIPIM where it was planning to showcase AED 2.5 billion ($680 million) in real estate options and opportunities.
International investors account for 28,000 of Nakheel’s customers with $30 billion in investments
Nakheel’s participating at this year’s MIPIM event comes less than a month after the emirate of Dubai reported over 15.8 million tourists had visited the emirate in 2017, up 6.2% from the previous year.
This is Nakheel third participation at the MIPIM, held in Cannes, France.
“Nakheel comes to this year’s show with a new range of real estate investment opportunities at prime locations across Dubai. Among them are residential units – some ready for occupation – offering rental yields of up to 9%, and land plots for commercial, residential or hotel development,” the company said in a statement released on Sunday.
Nakheel’s backlog currently amounts to $14 billion (AED 51.42 billion).
Since its first attendance at the MIPIM in 2016, Nakheel has awarded AED 3 billion in construction contracts, delivered two hotels, opened new retail and entertainment destinations, and launched several projects across the residential, retail, and hospitality sectors. Many of these projects will be showcased in Cannes in 2018.
The government of Dubai is looking to raise the number of tourists coming to the emirate to 20 million annually by 2020. The highly-anticipated Expo 2020 is forecast to attract 25 million tourists to the emirate.
“Dubai is the fourth most visited city in the world and home to the world’s busiest airport with 88.2 million international passengers in 2017. Currently, three million people live in the emirate, with the population expected to top five million by 2030,” according to data compiled by Nakheel.
