Nakheel, Dubai Islamic in $544mn property venture

New firm, Tashyed, to target UAE's real estate market, set to begin 2 projects.

Dubai developer Nakheel and Dubai Islamic Bank (DIB) have established a 2 billion-dirham ($544.6 million) property joint venture to target the UAE's booming real estate market, the companies said on Saturday.

The new firm, Tashyed, is set to begin two projects in Dubai on land purchased from Nakheel, one in International City and the other in Jumeirah Heights, the companies said.

They said Nakheel, a unit of state-owned conglomerate Dubai World, would provide development management and sales and marketing services, while Dubai Islamic would supply banking and mortgage services.

Related:

Market Performance

Dubai Islamic Bank - UAE
5.24
0.14 2.75 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Forgotten fees: the challenge of investing in Dubai property

Forgotten fees: the challenge of investing in Dubai property

Investors attracted to low service charges at some Dubai residential...

3
Dubai real estate: which way will it go?

Dubai real estate: which way will it go?

In this special report, Arabian Business analyses the state of...

1
Diving for answers: What's happened to Dubai Pearl?

Diving for answers: What's happened to Dubai Pearl?

The mysterious inability of a $6bn mega-project on prime land...

9
Most Discussed
sponsoredTracking