Dubai Real Estate News
UAE Property Market Trends and Reviews

Nakheel, a Dubai World Company which is one of the world’s largest real estate developers, together with a subsidiary to Shafar Group, Al Shafar Transport and Contracting Company, have entered into a contract for construction of 300 villas and terrace homes at Al Furjan development.

This contract is a milestone in the development of Al Furjan, followed by the last week's announcement of contract last week between Arabtec and Nakheel for Dh.3bn to build the first 1500 homes of the development.

Al Furjan offers a combination of traditional neighbourhood living, with spacious villas and terraced houses carrying immense open space and ample amenities.

Located towards 540 hectares south of Ibn Battuta Mall, and Discovery Gardens, and The Gardens, Al Furjan boasts about 4000 homes, apart from hotels, apartments, and commercial and mixed use plots in the developments surrounding Al Furjan, housing a total population of 90,000.

The construction is likely to commence during the third quarter of this year, and the delivery of residences will take place by the third quarter of 2010.

Labels: Al-Furjan, Construction Projects, Nakheel, Villa Projects

Nakheel has completed a major milestone in the development of Jumeirah Village, with 60 percent of infrastructure already completed.

Jumeirah Village, which spreads across 811 hectares, comprises several residences, commercial property, offices, and retail and leisure amenities accommodating a population of about 300,000.
Following the announcement of the project in 2004, the development has made tremendous progress with its new management team. The master-plan design incorporates the principles of 'new urbanism'. The combination of distinct architecture, the vast landscape, and the associated parks and boulevards are expected to create a balanced community.

The Jumeirah village has been planned with a focus on sports fields, parks, mosques, schools, cafes, shopping centers and restaurants, with easy access to community service, hubs and public open spaces. With all these amenities the community feel of the Village will be retained.

Jumeirah village targets the specific shortfalls in Dubai property market. By being located in the center of emirate, it is easily accessible to most other parts of Dubai, and has a huge demand for variety housing, retail, leisure and office space.

The General Manager of Jumeirah Village, Marwan Al Naqi, said "Being the largest inland project in our portfolio, the Jumeirah village is a major part of Nakheel's vision to convert the desert of Dubai to into a cluster of vibrant communities. With this project reaching 60 percent completion, it is a major accomplishment that reflects the pace at which the development is progressing."

Labels: Jumeriah Village, Nakheel

Labels: Nakheel, Palm-Jebel-Ali, Resorts, Theme-Parks, Tourism

Labels: Community, Nakheel, Residential, Water front

Labels: International City, Nakheel, New Developments

Nakheel has completed the reclamation of Dubai Promenade by placing the last rock on the project's breakwater. The breakwater, stretching 18kms, required 1 million tonnes of rock.

Dubai Promenade is Nakheel's sophisticated waterfront project, which will form a virtual peninsula along the Dubai shoreline, inclusive of a spectacular five-star wheel-shaped hotel.
The Promenade, surrounded by marina, sea and a natural beach will offer panoramic views, idyllic walkways, and well-planned architecture, which render a unique residential and commercial environment.

The first phase sale of the Dubai Promenade was launched on 24th January 2008.

Nakheel, being one of the largest private real estate developers in the world, is a major player contributing to realize the Dubai vision for the 21st century, by offering a world-class destination for living, business and tourism.

Labels: Construction Projects, Nakheel, Water front

Nakheel has unveiled the masterplan for Waterfront City, which forms the highlight of the world's largest urban development project, the Dubai Waterfront.

Labels: Nakheel, New Developments, Residential, Waterfront-city

Nakheel has announced the release of the final Shoreline Apartments, which could be the final opportunity to invest at The Palm Jumeirah.


The apartments, which are located at the trunk of The Palm Jumeirah, are easily accessible to private beachfront clubhouses and are inclusive of amenities such as retail outlets, world-class fitness centers, swimming pools, direct access to white sandy beaches of the island.



The Trunk is connected by an innovative monorail system and houses numerous shopping destinations, hotels and cafes. The area is the core of activity with the entire 2500 Shoreline apartments already handed over. More than 1500 apartments have already been occupied by residents.



The five private beachfront clubhouses will be unveiled over the coming weeks.
The Director of Sales, Manal shaheen said, "This year will be a huge change for 'The Palm Jumeirah'. More than 2000 families are now residing on the island and more amenities are opening up at the development and it is no longer a concept."

Labels: Apartments, Nakheel, Palm Jumeirah

Nakheel has revealed details about its deal with the Busch Entertainment Corportation (BEC), the family entertainment division of Anheuser-Busch Company at the US, to develop four theme parks, named Worlds of Discovery.

The theme parks will include Aquatica, SeaWorld, Discovery Cove and Busch Gardens.
The President and COO of BEC, Jim Atchison, announced the deal with the CEO of Nakheel, Chris O'Donnell and the Managing Director of 'The Palm Jebel Ali', Marwan Al Qamzi at the SeaWorld Orlando yesterday.


Both BEC and Nakheel entered into an agreement this month, for the construction of four theme parks on the second island of the three palm-shaped Islands by Nakheel. BEC, which is based in Orlando, operates ten 'Worlds of Discovery' parks throughout the US.

The 'Worlds of Discovery' in Dubai, will be built on a section of 'The Palm Jebel Ali' known as 'The Crown'. The first phase of 'Worlds of Discovery' will be unveiled during 2012. Apart from the four theme parks, the project will comprise other family tourist attractions such as spas, hotels, resorts, restaurants and shops.

"Dubai has fast become a leading tourist destination in the world, and a major part of the strategy has been attracting world-class entertainment brands to the emirate. We have already entered into partnerships with major brands such as Atlantis, Cirque du Soleil and the Trump. Our partnership with BEC is another example of the growth of Dubai, as a city of global prominence," said O'Donnell.

Al Qamzi said "Worlds of Discovery will turn out to be the attraction of The Palm Jebel Ali, and am already excited about opening the doors to the first visitors during 2012."

Labels: Nakheel, Palm-Jebel-Ali, Theme-Parks

The Island of Greece, in Nakheel's mega project, 'The World', will turn out to be a luxurious boutique resort, with construction due to commence in December 2008.



Speaking during the launch of Greece, Baron Jean Van Gysel de Meise, said "The World is an ideal location as it is a little haven located away from the stress of Dubai."


Spread across 45,000 square feet of space, Greece will have 65 units on the whole, worth about $170 million, and an estimated sales value of $200 million. Investors will be given access to the property for two months in a year. They will also receive 50% of the gross revenue of the property for the remaining 10 months.


According to Van Gysel, the construction will begin next December and the hotel would be open by 2010 December. He said, V…..Greece on 'the World' would be the launch-pad for boutique brands in the GCC, as other projects are currently underway in Oman and Abu Dhabi. The resort will have a marina that spreads across 1000 foot, with moorings for 16 private boats, apart from several restaurants and a spa.


Van Gysel said "Service in Dubai is not up to the mark, in comparison to the five-star services that one experiences in other parts of Europe. V….Greece aims to be a benchmark for service in Dubai."

Labels: Nakheel, The World

Master Developer Nakheel says it has reclaimed 30 percent of the 400 hectare island, out of the world's most ambitious urban development project, 'Waterfront'. With an area of 1.4billion square feet, that is twice the size of Hong Kong Island and bigger than Beirut and Manhattan, Waterfront, constitutes 65 percent of current land-bank of Nakheel.


Managing Director, Matt Joyce, said "Being twice the size of Hong Kong Island, it is 13 kilometers by 7.5 kilometers in size, and a monumental project. It is an entirely new city, master-planned from scratch on a blank canvas."


Waterfront has the capacity to house 1.5million people, creating about one million jobs on its completion. The first five phases of the project are complete with hard labour put in by 20000 odd workers and 3000 construction vehicles. Waterfront, on completion will have 250 individual communities.


The amount of land being reclaimed per month is about 3.52million cubic meters, which is sufficient to fill-up Wembley Stadium thrice. Infrastructure and civil works has already begun on the first phase (Madinat Al Arab), while the work on the Palm Cove Canal, stretching 8kms, running parallel to the coast is 65% complete.


With the work on Burj Dubai, the world's tallest building, nearing completion, Waterfront on the other end, is already planning to build one such tallest building in the world, Al Burj, in downtown Madinat Al Arab.

Labels: Construction Projects, Nakheel, Water front

Nakheel has commenced handing over of the Al Furjan plots to the purchases, much ahead of schedule.

Al Furjan is a family-oriented community development, located south of Ibn Battuta Mall, in close proximity to The Gardens and the Discovery Gardens. About 70 commercial and residential apartment plots with sizes ranging from 3000 to 5000 square meters have already been handed over to its purchasers from beginning 25th December, although, the handover was due only on 2nd March 2008.

This follows the successful launch of Al Furjan Phase 1, which was completely sold out within few days of launch. Al Furjan comprises four communities, with individual neighbourhood centers, along with other amenities such as schools, being located within walking distance from homes.
"This is a significant achievement for the Al Furjan team, whose, hard work ensured delivery of the plots prior to official hand-over date. This also marks a major milestone in Al Furjan's progress, and we are excited to deliver these plots much ahead of schedule," said Mohammed Rashed bin Dhabeah, Director, Al Furjan and Jebel Ali Village.

Al Furjan, which means "a collection of houses or a small village", on its completion, will have about 4000 homes, apart from hotels, apartments, commercial and mixed-use plots, all in the developments, which will surround Al Furjan, housing a population of 90,000, the developer confirmed.

Labels: Community, Dubai Real Estate, Nakheel, Residential

Nakheel, one of the largest property developers of the world, has entered the final stage of construction of The World islands in Dubai, completing the entire project in five years from the date of announcement.


The final stone that was laid was 34 million tones of rock, which was used in constructing 27-kms breakwater, which surrounds the 300 man-made islands that make up The World. The last rock was placed by Hamza Mustafa, the Director of The World, completing the first phase of one of the most sophisticated real estate development projects in the world.


The next phase of the project is to handover the islands to their developers for construction and the building of infrastructure. The cost of the islands range from $15 to $50 million, although, at present, each island costs about $250million.


The World Islands are a collection of man-made islands shaped in the form of continents of the world, located off the Dubai coast in the UAE. It consists of small individual artificial islands, divided into four categories - estate homes, private homes, dream resorts and community islands. The Formula 1 World Champion, Michael Schumacher, owns an island in The World Island.

Labels: Construction Projects, Nakheel, The World

The Dubai Promenade, the latest sophisticated waterfront community, announced by Nakheel, comprising 60 berths and own marina, is expected to create a virtual peninsula along the Dubai shoreline, along with a magnificent five star wheel shaped hotel.

Encompassed by a marina, a natural beach and the sea, the Dubai Promenade will offer panoramic views and idyllic walkways, with its carefully considered architecture, which will create a different residential and commercial environment.

The project spreads over 25000 square meters of retail space, and about 17000 square meters of office space, with 2000 residential units accommodating nearly 10,000 residents.

Positioned between the Dubai Marina and the seafront, adjacent to Dubai International Marine Club (DIMC), the Dubai Promenade offers breathtaking views of The Palm Jumeirah, the Arabian Gulf and the coast towards the Jebel Ali Port.

The development emphasizes on open space, waterfront lifestyle, with expansive promenade opening up the seafront to visitors and residents. The entire waterfront will offer a selection of commercial and residential towers, restaurants, cafes and retail space.

The Senior General Manager, Dubai Promenade, Ali Bin Damithan, commented that the Dubai Promenade will now further enhance the international profile of the emirate, through its wheel-shaped hotel, which would be the centerpiece of attraction, as the unmatched structure and shape of the hotel will be so magnificent that no other skyline in the world offers something like it.

The construction of the development is due to begin during mid-2008.

Labels: Community, Nakheel, New Developments, Real Estate Projects, Water front

Nakheel, the Dubai-based largest and most innovative real estate developers in the world, has awarded the first building contract for residences at Waterfront to Mammut Group, an UAE-based building and construction enterprise.

This will result in creation of first apartments and duplexes at the development, and is scheduled for completion by 2009.

Nakheel is developing an iconic portfolio of excellent landmark real estate projects in Dubai across a wide range of sectors like commercial, residential, leisure and retail. The developments of Nakheel would spread across more than 2 billion square feet of land, projected to be worth $60billion. On completion, the water front projects of Nakheel will cover about 1000 kms of Dubai's coastline.

Labels: Construction Projects, Nakheel, Water front

The World is considered to be the most extravagant project by Nakheel, with an archipelago of 300 manmade islands, set to be another icon for Dubai. With islands located just off the shore of Jumeirah beach, it is the most exclusive piece of real estate that one can own. The islands are constructed using the same techniques as in other popular Nakheel developments, the Palm Jebel Ali and the Palm Jumeirah.



The islands are so arranged as to form a globe, and draws attention from celebrities, wealthy businessmen, and even royalty to purchase a major island representing a specific country. Only recently, the island of Greece has been sold for $15.5mn dollars to an anonymous bidder in Greece. Depending on the location and size, the islands are priced anywhere between $15mn and $50mn. However, it caters only to the super-rich. The placement of infrastructure is left to the choice of the buyers, and this has resulted in the islands being pursued for residential and tourism purposes.

The only form of transport to the island is by boat and sea plane, hindering access to authorized visitors or residents, and this unique selling point has led to more than 60% of the islands being sold already. Despite the expense, the opportunity to own an island is an idea that can be realized only in few parts of the world, and Dubai is one such place.

Labels: Luxury Homes, Nakheel, Real Estate Projects, The World, Villa Projects, Water front

Nakheel, the largest real estate developers in the world, has announced twenty percent completion of their Marina Residences development on The Palm Jumeirah. The units are expected to be delivered towards end of 2008.





The six towers on Marina Residences, located at the tip of the trunk of The Palm Jumeirah, whose groundworks began during September 2006, now have their foundation works complete and the six structures have emerged out of the ground. The electrical, mechanical and plumbing works of each of the towers have commenced.

On completion, the development is expected to comprise about 940 double and triple bedroom apartments, penthouses, and 40 townhouses. Residents will be able to enjoy panoramic views of Arabian coast and get to access a wealth of attraction on The Palm Jumeirah such as the Atlantis, QE2, the luxury marinas, and the purpose-built theatre Cirque Du Soleil.

"We are delighted with the progress made on Marina Residences having only commenced work on the development during late 2006. Since its launch in 2001, the demand for property on 'The Palm Jumeirah' has been exceptional and the Marina Residences have been no different. More than 50% of the projects have been sold, and we are looking for future sales," says Johann Schumacher, the Managing Director of 'The Palm Jumeirah'.

Labels: Nakheel, Palm Jumeirah

Jumeirah Islands, a unique residential development by Nakheel, is based on the concept of island living in the heart of a busy city. It features 50 manmade islands, which are surrounded by water. Every island comprises 16 spacious luxury villas with a private pool and large variety of specifications and designs.



Each villa meets the highest in quality, and is characterized by European, Contemporary, Arabian and Mediterranean architecture. The villas are designed in three different ways namely the Master View, Enterntainment Foyer and the Garden Hall. Being surrounded by water, the islands truly depict the feel of an island lifestyle, with cascading waterfalls and the currents that keep the surrounding water flowing. The landscaped gardens include walkway and paths bridges to create an idyllic feeling of home.

When it comes to villas, each villa offers the best with regard to communications, entertainment and security. This, coupled with unique exterior design and fabulous garden space, makes the houses seem permanent homes. The Jumeirah Islands community offers a carefree luxurious lifestyle, with additional recreational facilities, apart from private pool alone, such as the health club, spa, tennis courts, community pool and gymnasium.

For any basic amenities such as the shops and ATM machines, one can always visit the Jumeirah Island Village, which is home to a wide range of shops and boutiques, themed restaurants, an amphitheatre, waterways, lagoons, and fountains that characterize the Jumeirah Islands project.



Jumeirah Island implies a community environment with the most beautiful settings around, and a home that is in no way short of total luxury.

Labels: Community, Jumeirah-Islands, Luxury Homes, Nakheel, Villa Projects

Nakheel has announced its plans to create 200,000 residential units in Dubai over the next decade with the belief that the property market in Dubai would continue to grow.

Nakheel's Director-Investment projects, Lee, says "The market would require 200,000 to 400,000 residential units during the next ten years and Nakheel could supply half of these. As the demand has exceeded supply, which in turn has led to surge in house, rent and construction costs, more units are required to balance the acceleration."



Rents have risen sharply in Dubai during the recent years, adding to the inflation. Although plenty of new properties have come into the market, according to Lee, the market is far from getting saturated. Denying the concerns raised about saturation, Lee pointed out that consultants had pointed out about saturation hitting Dubai market, a couple of years ago, but it has not yet happened as there is a huge growth in Dubai.

The population in Dubai has grown by 26 percent (excluding the tourists) as per the statistics revealed by the Dubai Statistics Department.

Nakheel Sales and Marketing Director, Manal Shaheen, mentioned that the company aims to develop homes for two million people by the year 2020.

Labels: Latest News, Market Trends, Nakheel, Real Estate News, Residential