NAKHEEL

[Imre]

20/January/2008

TDIM 2008,mixed pics

[Omaro]

The Universe :S...

Guys, was I drunk when I read news reports from Nakheel themselves saying that they are struggling to reclaim sand for the EXISTING manmade islands?! Where the hell are they going to find and use enough sand to use in a project that will take "up to 20 years" to be completed?

It's mind-boggling... Sheikh Mohammed's statement a couple or so years ago that what has been announced is only 10% of his vision for Dubai is true

[Imre]

if they want 5 million people in Dubai, this is still nothing, need more project

What is the next?

something between the Palm Jumeirah and Pam Jebel Ali?

[Sander-]

So these coral islands will be lots of small randomly shaped islands scattered between PJ and PD inside of the world right? I can't say any of the pictures show this very clearly (?)

[whonose]

I'm incredibly curious as to what is hiding behind that silver curtain in the 2nd-to-last photo of Imre's most recent post above.

[Imre]

it was the Dubai Promenade

[bizzybonita]

Originally Posted by Imre

if they want 5 million people in Dubai, this is still nothing, need more project

What is the next?

something between the Palm Jumeirah and Pam Jebel Ali?

impossible to get 5millions people in short duration(2-5yrs) with income so high like those projects...i wanaa to give ma advice for all locals people to do somethin ...i prefer duplicate them self to get 5millions people by next year .... what they can do the choices is limitedly!!!

[helghast]

Imre you didnt see or hear anything about big al burj

[Naz UK]

Why have the world's tallest tower, when you can have the world's most AAAAGHHASKLFPUKEFLAKERJ BAARRARFELLAAAAAAAAAAAAHHHHGGGHHHH!KILLME KILL ME NOWWWWWW, which they've named the Universe?

[Naz UK]

How many employees in total does Nakheel have?

[Face81]

Originally Posted by Imre

We will see new Al Bawadi masterplan as well

Did you see one?

[AltinD]

In Newspaper there was an ad for DREAMWORKS -SKG- Theme Park, comming from Tatweer.

[Imre]

Originally Posted by Face81

Did you see one?

yes, missing the Burj Dubai and the Burj Al Arab but they have a small Chicago Spire

[Red aRRow]

Originally Posted by Imre

Is that Robert Mugabe?

[Naz UK]

Yes. He is Nakheel's official consultant for "how best to FUCK UP YOUR COUNTRY'S LAND!" Apparently he's an expert in that sort of thing.

[Parisian Girl]

Dubai's Nakheel aims to raise $1.36 bln via REITS
(Reuters)

21 February 2008

DUBAI - Dubai developer Nakheel is looking to raise about 5 billion dirhams ($1.36 billion) of equity to finance housing and infrastructure projects via an initial public offering of two real estate investment trusts (REITs).

Nakheel, owned by the Dubai government, is in talks with banks about creating two REIT companies -- one to help finance infrastructure schemes and the other to fund residential projects, Chief Financial Officer Kar Tung Quek told Reuters on Thursday.

Between them, the REITs would aspire to hold assets worth between 8 billion and 10 billion dirhams, Quek said.

“We’d sell assets into them,” said Quek, whose Nakheel is developing about $60 billion of residential and commercial projects -- mostly in Dubai -- including three palm-tree shaped islands off the emirate’s coast.

Nakheel wants to develop a business managing REITs, Quek said. “It’s fee based and quite a lucrative business,” he said. Typically, firms charge about 1 percent of the value for managing a REIT, Quek said.

A REIT is a listed property company which typically does not pay tax on its earnings as long as these are mostly distributed to investors in the form of dividends. They are prevalent in several countries including the United States, Australia, Japan, France and Britain.

Nakheel said it would retain control of about 30 percent of shares in each of the REITs, selling the rest to institutions and the public.

The infrastructure REIT would have an asset value of between 5 billion and 6 billion dirhams, and the residential REIT between 3 billion and 4 billion, Quek said.

”We have been talking with some of the banks about a residential REIT and an infrastructure trust,” Quek said. “If the market permits it, we will do it this year.”

The REITs will list on the Dubai International Financial Exchange, with possibly a secondary listing in Singapore, he said.

[big mo]

Originally Posted by Naz UK

How many employees in total does Nakheel have?

3500 excluding labour workers. I guess of you count them, then it would become 90,000. I do know Dubai World, the owner of Nakheel, has over 160,000 employees.

[AltinD]

So much more then BBC, right?

[Parisian Girl]

Nakheel looks to expand overseas with joint projects

By Suzanne Fenton, Staff Reporter
Published: April 06, 2008, 00:31

Dubai: Master developer Nakheel believes expanding overseas is a "natural path", according to the managing director of The Palm Jebel Ali, Marwan Al Qamzi.

"Iconic projects such as The Palm islands and The World are recognised around the globe as symbols of Dubai and as a result, expanding Nakheel's business overseas is a natural path," said Al Qamzi.

"Nakheel International will take Nakheel's expertise in innovative development to countries around the world.

"This will include joint ventures with leading companies in targeted markets and development projects that deliver the innovation and expertise Nakheel is known for to select locations on almost every continent," he said.

The work on Palm Jebel Ali is progressing on schedule and at a rapid pace, with the first properties expected for completion by the end of 2011, according to Al Qamzi.

The Palm Jebel Ali is approximately 50 per cent larger than the Palm Jumeirah and more than 300 million cubic yards of sand and 10 million tonnes of rock have been used in its construction.

The island will add more than 100 miles of coastline to Dubai. Reclamation of the island is nearly complete and Nakheel has begun putting infrastructure in place that will eventually support a population of more than 280,000.

This includes the construction of six bridges by Samsung connecting the island to the mainland, which began in April 2007.

The reclamation began in October 2002 and the reclamation of land from the original masterplan was completed in 2007. Primary breakwater construction was finished in Dec-ember 2006 by Jan de Nul

Blue communities

Nakheel has committed Dh500 million over the next five years to Blue Communities, Nakheel's sustainability initiative launched under the direction of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

Nakheel is also in the process of developing its own environmental design of buildings and master planning guidelines, specifically designed for the types of projects it develops.

In addition, Nakheel has also created a sustainability department to ensure the integration of green building design into all their projects. This includes advising on strategies and materials that may reduce energy loads and water usage.

http://www.gulfnews.com/business/Rea.../10203365.html

[Parisian Girl]

Nakheel signs $375m Miami deal
by Amy Glass on Thursday, 10 April 2008

Dubai developer Nakheel has signed a $375 million (1.3 billion-dirham) deal with US group Fontainebleau Resorts for a 50% stake in the company's Miami Beach resort.

The developer's subsidiary Nakheel Hotels has partnered with Las Vegas-based resort and casino developer Fointainebleau Resorts, for a $500 million renovation of the Fontainebleau Miami Beach Hotel.

Joe Sita, CEO at Nakheel Hotels, said on Thursday the deal provided Nakheel with a “premier entrance” into the Miami resort market.

“…the Fontainebleau fits perfectly into Nakheel's strategy of investing in the best assets in the most important markets worldwide…Miami, as one of the US's major gateways, has been a key target, which we are pleased to have now gained," Sita said in a statement.

Fontainebleau Resorts said in a statement the alliance was the beginning of partnership that would lead to other global “opportunities”.

The Fontainebleau, which is located on 17 acres of oceanfront, will comprise more than 1,500 luxury guest rooms and suites and a 40,000 square foot European-style spa when renovations are complete.

The project is expected to open in the last quarter of this year.

Nakheel Hotels was launched in November 2007 as the new name for Istithmar Hotels after Dubai World consolidated its hotel business to create an integrated hotel investment company.

The Nakheel deal follows news that state-owned conglomerate Dubai World has received permission to up its stake in US casino operator MGM Mirage.

Dubai World currently owns 9.4% of MGM through its subsidiary Infinity World but was granted approval on Tuesday from the Michigan Gaming Control Board to buy up to 14.9% shares in MGM.

http://www.arabianbusiness.com/51621...h-resort?ln=en