Nakheel, Dubai Islamic in $544mn property venture

  • Share via facebook
  • Tweet this
  • Bookmark and Share

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
8.1
0.2 2.53 (%)
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!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Do celebrity branded projects ever work?

Do celebrity branded projects ever work?

The long list of celebrity-endorsed real estate developments...

1
Is this the end of the Gulf’s Indian cash dash?

Is this the end of the Gulf’s Indian cash dash?

From currency woes to taxation loopholes closing and a clampdown...

2
Mall talk

Mall talk

Plans for Dubai’s Mall of the World have made headlines all over...

1
Most Discussed
  • 24
    World's most pierced man refused entry to the UAE

    Tolerance has its limits everywhere including Dubai and those who considered Dubai a lawless circus were held accountable...so thank you Dubai authorities... more

    Thursday, 21 August 2014 10:51 PM - Khalil
  • 23
    Baby NOT on board?

    Some of you cry babies need to get your own personal apartments on the plane ! You cry more then the babies I have seen in my travels. LOL more

    Thursday, 28 August 2014 9:10 AM - Jim
  • 21
    Israel “must be punished” over Gaza, says Dubai police chief

    This high moral ground that Mick is talking abt sound very familiar. May I remind Mick that the US & its British ally alone killed over 1 million innocent... more

    Thursday, 7 August 2014 4:12 PM - Mathew