Should Emaar and Nakheel work together?

Omar Abdulwahab

I have owned properties from Nakheel and must say the service, build quality, and maintenance are horrendous.
Currently my investments are purely Emaar Properties. They are very well organised, professional, courteous, and take very good initiatives in providing a truly relaxed experience in Dubai. The qualities of the interiors and common areas are quite exceptional and i feel it is worth every penny to invest in an Emaar property.
I hope Emaar and Nakheel DO NOT merge together as my worry would be the level of customer service and organisation etc from Emaar would drop. Let's just say my perception of Nakeel is as a toxic form of cancer...sorry Nakheel, but the truth hurts...

Impressed

I have been working in Real estate advisory and research for 8 years in Dubai. Nakheel had the most arrogant and distastefull company culture. They are cleaning their act but there is still some way to go.
The idea is not a bad one. I am sure you will get some people thinking within Emaar and Nakheel, I will certainly ask the people I know in both firms to read this article.... Nakheel has got a lot of plots back through swaps and settlements. I am sure they could at least ring fence an area to get something going.

Ash

Considering that Emaar cannot finish off projects that it has already started (Downtown Dubai and the Marina are full of half built and abandoned projects) starting another 'mega project' would be an act of insanity.

keenobzerver

You are referring to private plots of land sold by Emaar to independant developers who bear sole reponsibility for financing and constructing their projects.

ALL of Emaar buildings in Marina have been completed and handed over.

Kaz

Nakheel build all their land out at sea, (The Palm, The World, The Universe) and Emaar brings the sea Inland (The new Busines Bay Creek, The Fountains, The Marina - so it would probably never work!!!

N.S.

God forbid! I own an Emaar property and I am totally satisfied in regards to time delivery, quality, community fees, transparency. I don't hear similar comments from Nakheel clients. A possible merge could be good but there's a strong risk of being also a bad decision which may affect the developer with, so far, the best reputation in UAE.

Geoffrey

Big flaw in argument. Nakheel sold all the land already. I should know I still own two plots. Unless you carried out compulsory purchase orders on all existing buyers, money from where? Then there is nothing in it for Emaar, Emaar make their money through development. E.g. buying the land, developing the land and selling units. As they can't own the land here, you are either asking them to bear all the HUGE cost for the infrastructure in return for the very few subprime plots left - not worth it. Or get them to act solely as a DMA but then they are having to deal with all the history and the mess that is the Waterfront, just for a development fee. And why take on the risk of having your name sullied when you can't deliver the basic infrastructure because your client (Nakheel) doesn't have the money to deliver the basics? And why would Nakheel pay a development fee and give away all control over the whole project, when they still have the ability to do it in all in house?

PJA Owner

I bought a villa on Palm Jebel Ali directly from Nakheel in 2003 - I'm still waiting for it 10 years later and wonder how long I will have to wait before they will even tell me what their plans are. The way they treat their customers is nothing short of disgusting.

Skinky

Where is the Competition in this Free Market ?!

No one special

This may be a possibility... look at the new projects with Dubai Holdings and Emaar... get ready share holders...

Raymond

Assessing this possibility purely on its own merit as a single project ? albeit a very big one does make sense all round providing always that Nakheel?s role is limited to just the landowner who will enjoy the spot light of being associated with a fantastic beach front development by a credible developer like Emaar.

A key point to note is that Emaar to date has no beach front properties and would, in my opinion, relish the idea to show demonstrate its full capabilities.


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