Dubai developer reveals sales figures as it chases more European investors in Germany
Dubai-based master developer Nakheel has revealed that more than 27,000 international investors have bought 41,000 land plots or residential units, collectively worth over AED120 billion ($32.6 billion).
Europeans, who account for around 3,600 of customers, have spent AED7.5 billion with Nakheel, it said in a statement which added that it is exhibiting in Munich this week.
A multitude of real estate investment opportunities worth more than AED6.5 billion will be on show as it exhibits at Expo Real for the first time.
The only UAE developer exhibiting at the event, Nakheel said it is showcasing a range of investment opportunities including land plots for commercial, residential or hotel development as well as completed and off-plan residential units at prime locations across Dubai.
Nakheel, developer of landmarks such as Palm Jumeirah, The World and the upcoming Deira Islands, said it is using Expo Real to highlight Dubai’s investment opportunities to the global real estate fraternity.
The company currently has AED50 billion worth of projects under development in terms of infrastructure and construction costs, with investment opportunities collectively worth AED6.5 billion on show at Expo Real.
Rental yields on Dubai properties range from five to nine percent – considerably higher than in many European cities.
Ali Rashid Lootah, chairman of Nakheel, said: “Since we first came to Expo Real in October 2015, we have announced record-breaking profits, handed over 2,700 units to customers, completed and opened five new retail developments, delivered two hotels, signed international joint ventures on two resorts and launched a wide range of new projects across all real estate sectors.
“We are delighted to be back in Munich, where we can access untapped markets and encourage well-informed, highly influential investors to become part of Dubai’s real estate sector.”