Dubai - Mubasher: Dubai-based developer Nakheel on Sunday announced that it was going to France with “$1.6 billion worth of real estate to target international investors at MIPIM”, the world’s premier real estate summit.
The emirate of Dubai’s master developer is planning to showcase a “diverse range” of investment opportunities including land plots for commercial, residential, or hotel development, as well as “completed built-form residential units”, which offer rental yields of up to 9% per annum, Nakheel said in a statement.
The opportunities are for a number of “prime locations” across the emirate of Dubai, it added.
Nakheel boasts a large number of famous developments including Palm Jumeirah, The World, and the upcoming Deira Islands.
Launched in 2001, the company currently aims to add to its existing pool of international customers, whose investments already amount to around $28 billion.
“Nakheel has delivered ground-breaking, landmark developments that have helped transform Dubai into a global hub for living, tourism, and trade. The company continues to play a key role in further shaping Dubai into a world-class destination – and a magnet for overseas investors – by delivering new projects in line with the Government of Dubai’s vision,” the statement showed.
In 2016, the Dubai-based developer was awarded construction contracts exceeding $800 million, with another $2.7 billion due in 2017.
“In the 12 months since MIPIM 2016, Nakheel has announced record annual profits of $1.35 billion, signed joint ventures with international partners, completed the first phase of infrastructure at Deira Islands, and opened an extension, Metro link, and hotel at Ibn Battuta Mall. We also unveiled PALM 360, our new, iconic landmark hotel and residential development on Palm Jumeirah – and one of the highlights at MIPIM 2017,” said Nakheel CEO Sanjay Manchanda.
