Nakheel

Nakheel is the company behind a variety of new landmark property developments in Dubai, including The Palm, The World, Jumeirah Islands, Dubai Waterfront and Ibn Battuta MallIbn Battuta Mall among others.

The Palm Jumeirah and Palm Jebel Ali are palm-tree-shaped resort islands being built on reclaimed land extending five kilometers into the Gulf waters south of Dubai and surrounded by 12 kilometers of protective barrier reefs. The two Palms will include 2,000 villas each, up to 40 hotels, shopping complexes, cinemas and a marine park. The project, which is expected to take up to four years to be completed, has been a great success, with Palm Jumeirah completely sold out. Plans are underway to develop a third palm in Deira.

The World consists of a series of 200 islands positioned strategically to form the shape of the world map and located five kilometers off the coast of Dubai. It will cover 64 million square feet, of which 10 million square feet is beachfront property. Reclamation started in late 2003, with a target completion date for the project sometime in 2008.

In January 2005, Nakheel launched its biggest real-estate project to date, the multi-billion dollar Dubai Waterfront. It is a 10 themed residential, commercial and tourist development on the remaining undeveloped coastline extending to the border with Abu Dhabi covering 170 square miles. The first phase of 872 million square feet will include Al Burj, one of the world's tallest towers, and a series of manmade islands. It is due for completion in 2010. The second phase will include a 46 miles manmade creek, stretching into the desert around Dubai's planned second international airport, creating 233 miles of new waterside land for development. The project, which is majority owned by the government of Dubai, will also be open for strategic and private investors.