Thursday, August 19, 2010

Nakheel to begin work on six mega projects in Dubai

Nakheel, the leading Dubai-based property developer will begin work on a minimum six mega projects in Dubai early next month, it has been announced.

The projects on which Nakheel aims to resume work are Jumeirah Village, Jumeirah Park, Al Furjan, Jumeirah Islands Mansions, Al Badrah and Jumeirah Heights Clusters.

Nakheel is currently engaging contractors in certain short-term projects, aiming to continue work in the coming weeks. All short-term projects will kick-start by early October 2010, it has been reported.

The developer, the Palm Islands, has issued payments to contractors, and this has helped in resuming stalled projects in the emirate.

The Nakheel Chairman Ali Rashid Ahmed Lootah said that the company was dealing with 1000 trade creditors. The companies, including Halcrow and Arabtec Construction, and Halcrow, the UK engineering company is involved in the Palm Jumeirah and they have confirmed to have received payments from Nakheel.

The Chief Financial Officer of Arabtec, Ziad Makhzoumi, stopped work on Al Furjan in January, and said the project would re-start soon.

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