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Mon 4 Sep 2017 09:26 AM

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Nakheel set to announce $871m worth of projects at Cityscape

Development sites include Palm Jumeirah and four of its communities in Dubai

Nakheel set to announce $871m worth of projects at Cityscape
Nakheel chairman Ali Rashid Lootah.

Nakheel is set to announce $871 million (AED3.2bn) of projects at Cityscape next week.

The master developer will launch six new developments across four of its communities in Dubai, including its flagship Palm Jumeirah. These will span residential, retail and hospitality.

Nakheel chairman Ali Rashid Lootah said: “As the creator of the globally-famous, award-winning Palm Jumeirah and other iconic projects that have put Dubai on the global map, the Nakheel name is synonymous with current and future developments that will further enhance the city’s position as a world-leading location for living, leisure, business and tourism.

“At Cityscape, we will demonstrate our pivotal role in realising the Government of Dubai’s vision for 2021, and highlight Dubai’s unrivalled investment opportunities for investors.”

He added: “We continue to deliver and diversify in line with government goals and our own business strategy. And while development remains our core business, we are focussing on growing our hospitality, retail and leasing divisions by creating a range of new hotels, resorts, F&B destinations, malls and tourists attractions across the city.”

Nakheel says its current and future retail project portfolio covers more than 17 million square feet of leasable space. This includes the Nakheel Mall on Palm Jumeirah, Ibn Battuta Mall and Dragon Mart.

Cityscape runs from September 11 until September 13 at Dubai World Trade Centre. A raft of new projects launches are expected from Dubai’s leading developers, as the city gears up for growth ahead of Expo 2020.