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#1 · (Edited)
Nakheel to reveal plans for new era of waterfront development at TDIM 2008


Dubai, 14 January 2008: Nakheel, one of the world’s largest privately-held property developers, will showcase plans for its new era of waterfront development at this year’s TDIM 2008 (Tourism Development project & Investment Market), a new exhibition taking place at Dubai World Trade Centre on 20th to 22nd January.

Nakheel will play a key role in the first ever TDIM exhibition with the largest stand in the company’s history, which is approximately the same size as three Olympic swimming pools. A number of new developments will be revealed in exciting shows talking place in two large domes situated within the stand. Nakheel will also unveil a 13 metre-long scale model of Dubai with an updated show, detailing the role the waterfront has played in the growth of Dubai and the major role Nakheel has played in this.

Each of Nakheel’s waterfront projects will be displayed at the exhibition, including the latest addition to Nakheel’s diverse portfolio of projects, Dubai Promenade. A model of the recently launched waterfront community is set to be revealed, which will allow visitors to see how Dubai Promenade will create a virtual peninsula along the emirate’s shoreline anchored by a spectacular five-star wheel-shaped hotel.

Manal Shaheen, Director, Sales, Marketing and Customer Services, said: “Nakheel is thrilled to play such a major role in the first ever TDIM exhibition. As the creator of some of the world’s most iconic developments, TDIM provides a perfect opportunity to showcase our most visionary projects, such as The Palm Jumeirah and The World, but also the exciting new waterfront projects that we are launching this month. The Nakheel stand is the largest that we have ever created in our history and will feature some truly spectacular attractions.”

Fast Future / Global Futures and Foresight (GFF), a strategic futures think tank, which draws on a global network of business, academics, and future thinkers from across the world, will also feature at Nakheel’s stand. Nakheel is currently sponsoring a study conducted by GFF, titled ‘The Future of Travel and Tourism in the Middle East – A Vision to 2020’; seminars discussing this study will also be conducted at the exhibition.

Manal Shaheen added: “The partnership with GFF provides an opportunity for Nakheel to further demonstrate that we are taking positive steps in recognising the long term effects of ongoing development.”


Project updates: The Palm Trilogy

The first residents began moving into The Palm Jumeirah at the end of 2006 and now more than 1,500 homes have been handed over. The Palm Jumeirah’s villas and apartments sold out within days of launch and now yield average premiums of 70-120%. Over the next three to four years, Nakheel will transform The Palm Jumeirah into one of the world’s premier resorts with an average of 25,000 hotel guests and 20,000 visitors a day. There will be 30 five star hotels including Atlantis and Trump Tower, luxury marinas, and a purpose built theatre for Cirque du Soleil. The QE2 will also be located off The Palm Jumeirah.

The Palm Jebel Ali which will add a further 100 kilometres of coastline to Dubai is progressing at a rapid pace. Reclamation on the project began in October 2002 and reclamation of land from the original masterplan is now 100% complete. Reclamation of additions to the original master plan, including the lengthening of fronds and widening of the spine is underway. Primary breakwater construction work was completed in December 2006 by leading engineering company, Jan de Nul, and infrastructure work commenced in April 2007 with the construction of six bridges by Samsung which will connect to the mainland.

At the opposite end of Dubai, The Palm Deira – the newest and largest of the Palm developments – is also progressing well, and in terms of reclaimed land is already bigger than The Palm Jumeirah. Reclamation of the entire project is on schedule to be completed by 2013. The Palm Deira will add 226 kilometres of coastline and will be 4,635 hectares in size. Eighty per cent of The Palm Deira is expected to be for residential purposes. This new ‘city’ will include a wide variety of facilities, amenities and public services, from schools to hospitals, places of worship to recreational facilities, shopping malls to sports amenities for use by up to one million people.

Based four kilometres offshore from Dubai in the Arabian Gulf, one of Nakheel’s most iconic projects, The World, is also progressing at a rapid pace. Land reclamation has now been fully completed and more than half of the total islands available for sale have been sold. Last year saw a huge demand from investors; with almost 50 islands sold. Measuring approximately 9 kilometres in width by 7 kilometres in length, the development covers approximately 931 hectares and adds an additional 232 kilometres of beachfront to Dubai’s coastline. Cost of islands vary depending on size and location, and are currently between $15- $50 million.

just for interesting, Cityscape 2007, Nakheel:


(pic from the Nakheel)
 
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#600 ·
Nakheel to Start Selling Dubai Palm Homes

By Zainab Fattah - Feb 23, 2012 12:44 PM GMT .


By Zainab Fattah - Feb 23, 2012 12:44 PM GMT .

Nakheel PJSC, the Dubai developer bailed out by the government in 2009, will start selling townhouses on Palm Jumeirah next month in its first new residential project since the property market crashed in 2008, Chairman Ali Rashed Lootah said.

The state-controlled company will develop mid-range homes on its Palm Jumeirah artificial island, alongside the apartments and villas already built there. Nakheel, Dubai’s biggest developer by assets, announced a plan to construct 102 townhouses on the island in September.

“Not everyone wants a villa or an apartment,” Lootah said in an interview at his office in Dubai. “There’s demand for townhouses on the beach, but we’re being careful not to increase the density on the palm.”

The Palm Residence project will test demand for property in a market where prices have plunged by more than 65 percent since their mid-2008 peak. The slump forced Nakheel to write down the value of its real estate by 78.6 billion dirhams ($21 billion) and prompted the bailout.

Most of the Palm project will be financed by sales agreed before construction begins, a method that was common before the property slump. Lootah, who declined to comment on the expected cost of the development, said it won’t be financed through bonds or loans from international banks.


Stalled Projects
Nakheel plans to spend 1.4 billion dirhams this year to complete nine projects across Dubai that had been suspended after the property crash, according to an Islamic bond prospectus obtained by Bloomberg News in September. Nakheel plans to complete 7,982 homes in 2012, the document showed.

“My main challenge is to deliver to buyers the homes they bought,” Lootah said. “The banks and the contractors made a lot of money off us during the boom days, but the buyers have been patient and we want to deliver the homes they paid for and dreamed of. That’s my main goal.”

Nakheel settled 6.6 billion dirhams of claims related to property sold in projects that were halted indefinitely, Lootah said. The buyers have been offered alternative homes in projects nearing completion or credit notes that can be redeemed in five years. Nakheel has about 3.4 billion dirhams of claims left to settle, he said.

Revenue from retail will probably double by 2014, lifted by an additional 3 million square feet (278,709 square meters) of space, Lootah said. The company reported revenue of 1.5 billion dirhams for the first half and is due to release 2011 results in March.


International Unit Revival
Limitless LLC, the international property developer put under Nakheel’s management in July 2010, has almost restructured a $1.2 billion loan, Lootah said. The company, which halted projects across the world following the crisis, plans to resume work on developments in Moscow and Saudi Arabia, where housing demand is highest, Lootah said.

Before the crisis hit, Limitless was developing Khimki, a villa and low-rise apartment project on 114 hectares (1.14 million square meters) to house 14,000 people alongside the Moscow River Canal. The company’s Al Wasl project in the Saudi Arabian capital, Riyadh, was designed to include more than 50,000 homes as well as offices and retail space on 1,400 hectares, according to the company’s website.

To contact the reporter on this story: Zainab Fattah in Dubai on zfattah@bloomberg.net.

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net.


http://www.bloomberg.com/news/2012-...roject-since-crash-on-palm-shaped-island.html
 
#602 ·
'We will go by the book,' says Nakheel


Shoreline Residences at Palm Jumeirah has been at the heart of a service-charge dispute with master developer Nakheel.

by Gerhard Hope on Feb 24, 2012

Master developer Nakheel recently hosted a media round table to present its case in its ongoing dispute with residents at the Shoreline Residences on Palm Jumeirah with regard to unpaid service charges.
http://www.constructionweekonline.com/article-15774-we-will-go-by-the-book-says-nakheel/
 
#603 ·
#604 ·
Nakheel pays Dh202.2m to lenders

By Staff | Published Sunday, February 26, 2012

Nakheel released on Sunday profit and interest payments equivalent to Dh202.2 million to its lenders.

The payments were due at the end of February 2012 in accordance with the restructuring commitments.

A Nakheel spokesperson said the timely discharge of the committed payments signals the successful execution of the restructured operations by Nakheel.

He said it cements Nakheel’s commitments towards implementing the agreed operating plan following the completion of one of the largest and most complex restructuring in the Middle East in August 2011.
http://www.emirates247.com/business/corporate/nakheel-pays-dh202-2m-to-lenders-2012-02-26-1.445189
 
#605 ·
Nakheel starts selling new Palm townhouses for Dh6-8 million

By Parag Deulgaonkar | Published Thursday, March 29, 2012

Nakheel has finally commenced sales of its townhouse project on Palm Jumeirah, launched in September 2011, at prices ranging between Dh6 and Dh8 million.

Located off the Palm Jumeirah eastern side of the trunk, Palma Residences will have 104 townhouses and will be separate gated community with a Mediterranean-style design.
http://www.emirates247.com/news/emi...nhouses-for-dh6-8-million-2012-03-29-1.451180
 
#607 ·
#608 · (Edited)
Stay OFF from Off Plan Palma Residences

Stay away from any off-plan purchases

The news about them selling 21 villas-could be just propaganda to entice people to buy.

Anybody who has not learned from the problems of investors stuck in
incomplete buildings will suffer again. If you don't learn from other people's
mistakes you will learn from your own.

When sh*t hits the fan we know who the government, RERA and courts support. THE DEVELOPER.

Buy only COMPLETE buildings and nothing else is my 2 pence worth.

Many Nakheel projects are on hold. They don't have a reputation of delivering on schedule.
 
#611 ·
Nakheel signs off 2 new Palm projects

By Staff | Published Thursday, April 19, 2012

Nakheel on Thursday signed contracts worth Dh43 million for two key projects on Palm Jumeirah.

A Dh25-million contract for design of the Palm Mall, a 1.7 million sq ft retail complex, was awarded RSP Architects. Design work is due to finish by year-end, with construction starting early in 2013. The mall will open in 2014.
http://www.emirates247.com/property...s-off-2-new-palm-projects-2012-04-19-1.454759
 
#612 ·
#613 ·
Passed by Nakheel's new Palm Jumeirah townhouse development, La Palma, today and there was zero activity, not one worker or machine. According to Nakheel, the completion date is in 18 months ! Also to note is that government developers like Nakheel and Emaar still are exempt on The Escrow Law, i.e., the funds deposited towards La Palma are not tied to this project. The off plan buyer can however rest assure that his investment is protected by an ironclad SPA based on Dubai Property Laws, enforced by an expeditious and affordable court system and overseen by the ever vigilant RERA agency.
 
#615 ·
Nakheel cuts customer liabilities

By Manoj Nair, Associate Editor | Published: 00:00 May 11, 2012


Villas on the Palm Jumeirah, a Nakheel project. Nakheel has handed over 1,171 properties to its customers this year so far. Image Credit: Gulf News Archives

Dubai Total customer liabilities "mitigated" from Nakheel's long-term projects now total Dh6.67 billion out of the original Dh9.88 billion — a decline of 32.4 per cent, Gulf News has learnt.
http://gulfnews.com/business/property/uae/nakheel-cuts-customer-liabilities-1.1021343
 
#616 ·
#617 ·
#662 · (Edited)
Message to RSP Architects

We want to see the final design for the Palm Jumeirah Shopping Mall please!!!

Its been ten months since the multi million dollar contract was awarded for you to design it

&

With 2014 being the opening date of the mall, shldn't nakheel move to phase 2 now (i.e. actually building it??)



Its time to send out a PR on the CENTRE PIECE of the 'iconic' Palm Jumeirah,

((The mall will prob end up a very VERY significant Nakheel asset- lets have a looksie please.))

:)

The village centre Palm Mall-Relaunched in April 2012 and delivered in 2014...


Quote: The mall will open in 2014


http://www.emirates247.com/property/real-estate/nakheel-signs-two-palm-projects-2012-04-19-1.454759
 
#623 ·
TerryPop said:
Based on these timelines- the Palm is going to be a swamped with workers- 1,000's? over the next few months...

Anyways:cheers:
I'm sure that once the majority of the major projects are completed then it can only add to the value of the properties, that is assuming the quality of the projects, but I don't foresee any issues on this front.

Does anyone know what they are planning to build opposite the Golden Mile apartments, as there are some excellent sea facing plots for either hotels or a combination of hotel/residential?
 
#624 ·
Why don't you foresee any issues on the subject of quality? any reason in particular? has something changed at Nakheel?

Again, why would a corporation that wants to be taken seriously and dust off a bad history, publicise delivery dates they OBVIOUSLY cannot keep?


Who on earth is behind their PR?
 
#625 ·
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