France in focus as Palm Jumeirah developer heads to MIPIM 2016
Dubai - UAE master developer Nakheel, creator of some of the world's most famous landmark real estate projects, is targeting European investors with a diverse range of products worth AED 4 billion (EUR 1 billion) as it attends MIPIM, the world's largest real estate event, for the first time.
Investment opportunities include around 100 land plots for commercial, residential or hotel development and around 1,000 built-form residential units, with rental yields of between five and nine per cent annually, at prime locations across Dubai.
The only Dubai developer exhibiting at the conference this year, Nakheel is looking to add to its already-extensive pool of European investors, whose investments currently total nearly AED7 billion (EUR 1.7 billion). The company will focus on institutional investors and those in the hospitality and retail sectors during MIPIM, which has 21,000 participants.
Since its launch in 2001, Nakheel has delivered a range of iconic, landmark developments that have helped transform Dubai into a world-leading destination for living, tourism and trade. The company awarded construction contracts worth AED 8 billion (EUR 2 billion) in 2015, with another AED 8 billion (EUR 2 billion) due this year for new projects being developed in line with the Government of Dubai's vision for 2021.
Nakheel's current projects span more than 15,000 hectares and provide homes for over 270,000 people, with new master communities and a growing collection of residential, retail and hospitality developments in the pipeline.
Some 3,600 investors from Europe have already bought 4,700 land plots or residential units - collectively worth AED 7 billion (EUR 1.7 billion) - from Nakheel. British citizens account for 70 per cent of investors, with over AED 4.9 billion (EUR 1.2 billion) invested, followed by buyers from The Netherlands, Ireland, Germany, Belgium, France, Sweden, Italy, Denmark and Portugal.
Speaking at MIPIM, Nakheel Chairman Ali Rashid Lootah said: "Nakheel is proud to represent Dubai at MIPIM. Since our formation in 2001, Nakheel has played a pivotal role in shaping Dubai into a global destination and a magnet for overseas investors. We continue to design and deliver new, world-class projects in line with the Government of Dubai's vision.
"Home to the world's busiest airport, host of Expo 2020, an increasingly-popular tourism hotspot and with a population expected to double by 2030, Dubai offers countless new opportunities for investors who want to be part of the city's exciting future.
"Dubai's excellent transport, education, trade and recreational facilities already entice millions of people to live, work and spend leisure time in the emirate. As the city continues to grow, so will the need for more accommodation and attractions for residents, tourists and businesspeople, opening up further opportunities for investors.
"We are delighted to bring the Dubai real estate experience to Cannes, where we look forward to presenting the emirate's unrivalled investment offerings to MIPIM's huge, influential global audience."
The Nakheel stand at MIPIM will feature scale models of the company's flagship project, Palm Jumeirah, and the developer's next waterfront wonder, Deira Islands - a 5.3 sq km coastal city that will turn Dubai's traditional trading hub into a world-class destination for tourism, retail and entertainment, and add 40 km, including 21 km of beachfront, to Dubai's coastline in the process.
Other projects on show include Nakheel's Jumeirah Village, Al Furjan and Jumeirah Park master communities as well as luxury apartments on Palm Jumeirah, townhouses in Nakheel's high-end Jumeirah Islands development and spacious three-bedroom homes at its new, gated Warsan Village community.
To find out more about Dubai, Nakheel and the investment opportunities on offer, visit the Nakheel at stand C20, MIPIM, Palais des Festivals, Cannes, 15-18 March 2016.
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About Nakheel (www.nakheel.com):
Nakheel is one of the world's leading developers and a major contributor to realising the vision of Dubai for the 21st century: creating a world class destination for living, business and tourism. Nakheel continues to deliver and enhance an iconic portfolio of innovative landmark projects in Dubai across the residential, retail, hospitality and leisure sectors.
Master developments include Palm Jumeirah, The World, Deira Islands, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Al Furjan, Warsan Village, Dragon City, International City, Jebel Ali Gardens and Nad Al Sheba Community. Together, these span more than 15,000 hectares and currently provide homes for over 270,000 people. Nakheel has nearly 21,000 residential units under construction or in the pipeline.
Nakheel's current and future retail project portfolio covers more than 15 million square feet of leasable space. Retail destination developments include Ibn Battuta Mall, Dragon Mart 1 and 2, Nakheel Mall, The Pointe, The Golden Mile, Deira Mall, Deira Islands Night Souk, Warsan Souk, Al Khail Avenue, The Circle Mall and major extensions to Dragon Mart (renamed Dragon City) and Ibn Battuta Mall. Nakheel also has several neighbourhood community centres in operation or under development. Our growing hospitality project portfolio comprises 10 hotels at various locations in Dubai, including Palm Jumeirah, Deira Islands, Ibn Battuta Mall and Dragon City.
About MIPIM
MIPIM has been a key conference, exhibition, networking and transaction event for the world's top real estate players since 1990. Over the following 26 years, MIPIM has become the leading worldwide property event gathering real estate professionals from all sectors. It aims to provide an international platform for industry leaders to connect, and do face-to-face business. The event attracts companies from 89 countries, with 1,628 investors attending annually. MIPIM has grown significantly over the years, and now has events in UK, Asia and Japan, as well as MAPIC, the international retail property event.
Media contact: Rebecca Rees on +9714 375 9702 (rebecca.rees@nakheel.com)
Please see attached information showing Nakheel's current and pipeline projects
Media interviews with Nakheel are available at MIPIM. Contact: Rebecca Rees, Nakheel (+9714 375 9702 / rebecca.rees@nakheel.com) or Ed Lowcock, Innesco (+447801236387 / edward.lowcock@innesco.co.uk)
© Press Release 2016
