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20.07.2014
Nakheel's new master community will include 100 luxury serviced residences and extensive onsite retail and recreation facilities - all at an estimated cost of AED2.5 billion Leading property developer Nakheel is bringing a new, gated master planned community of 1,000 villas to Dubai, as part of its business expansion strategy, Gulf News reported on Saturday.
Located in Dubai’s Nad Al Sheba district, a 10 minutes’ drive from Burj Khalifa, the development comprises 900 three- to five-bedroom villas for lease and a separate resort-style complex of 100 high-end, serviced homes — all with private swimming pools.
The project has an estimated construction value of AED2.5 billion and is due for completion in 2016 with the construction tender expected to be released within three months.
Earlier in July, Nakheel, which had suffered at the hands of the emirate's financial crisis five years ago but is now recovering strongly, reported a 54% jump in profit for the first half of this year.
The government-owned company made a net profit of AED1.85 billion ($504 million) in the six months to June 30, up from AED1.20 billion in the corresponding period of 2013.
Located in Dubai’s Nad Al Sheba district, a 10 minutes’ drive from Burj Khalifa, the development comprises 900 three- to five-bedroom villas for lease and a separate resort-style complex of 100 high-end, serviced homes — all with private swimming pools.
The project has an estimated construction value of AED2.5 billion and is due for completion in 2016 with the construction tender expected to be released within three months.
Earlier in July, Nakheel, which had suffered at the hands of the emirate's financial crisis five years ago but is now recovering strongly, reported a 54% jump in profit for the first half of this year.
The government-owned company made a net profit of AED1.85 billion ($504 million) in the six months to June 30, up from AED1.20 billion in the corresponding period of 2013.
