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Mon 25 Jan 2016 02:03 PM

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Nakheel showcases $4.6bn real estate portfolio at Hong Kong show

Investors from Far East and South-east Asia have already invested $245 million in Nakheel’s property

Nakheel showcases $4.6bn real estate portfolio at Hong Kong show

Dubai-based real estate developer Nakheel will showcase $4.6 billion worth of construction projects at this week’s Dubai Property Show in Hong Kong.

The exhibition, which opens on Thursday January 28 next at the Hong Kong Convention and Exhibition Centre, is being organised by Sumansa Exhibitions in association with the Dubai Land Department.

Nakheel, whose projects already span more than 15,000 hectares and provide homes for over 200,000 people, is expected to be the biggest developer at the show and will exhibit a diverse range of new master developments, residential properties and retail and hospitality projects at the three-day event.

According to Nakheel, investors from Hong Kong and other parts of the Far East and South-east Asia have already invested $245 million in its property, buying around 500 villas, apartments or land plots from the master developer.

Nakheel said Chinese investors account for nearly 80% of these purchases: 390 properties worth $212 million. The biggest group of overseas investors with Nakheel is Indians, who have bought 4,400 properties worth $2.5 billion.

Thousands more Chinese people have invested in Dragon Mart, Nakheel’s recently-expanded retail and trading complex in Dubai, which is the world’s biggest Chinese trading hub outside mainland China, with more than 4,000 shops, restaurants and entertainment outlets welcoming an average 80,000 visitors daily.

“The Dubai Property Show is the ideal platform from which to highlight how investors in Hong Kong can be part of the Dubai real estate success story, as end-users or with a view to renting out,” said Ali Rashid Lootah, Nakheel chairman.

“Dubai’s excellent transport, education, trade and leisure facilities act as a magnet for people to live and work in the emirate. These people need accommodation, meaning a huge demand for rental properties, which offer substantial investment returns.  We look forward to further strengthening our relationship with investors in this part of the world through this exciting event.”

Nakheel’s projects on show in Hong Kong include the 15.3 square kilometre Deira Islands coastal city; luxury high-rise apartments in the 52-storey Palm Tower and high-end waterfront units at Azure Residences at Palm Jumeirah; and spacious three-bedroom townhouses at Warsan Village, a new, gated community located near Dragon Mart and Nakheel’s biggest master community, International City.

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