Nakheel

Nakheel Company (translated from Arabic as “Palm trees”) is one of the main and world-famous developers in Dubai.The largest projects are palm islands in Dubai, The Palm Jumeirah, Palm Jebel Ali, Palm Deira and the artificial archipelago of The World. Nakheel is the general developer of residential areas such as The Gardens, International City, Jumeirah Lake Towers (JLT Dubai), Jumeirah Islands. The Dragon Mart and Ibn Battuta Mall shopping malls have also become part of the developer’s portfolio. Nakheel is part of the Dubai World investment company owned by the Government of Dubai, developing the real estate business. Thus, the developer belongs to the government, and the duties of the executive director are assigned to Sheikh Ahmed bin Saeed al Maktoum, a member of the ruling family. The company itself sees its mission in creating world-class real estate convenient for life, business and attractive for tourists. Nakheel strives to use advanced technologies and effective urban planning methods in its work. The developer claims to prioritize the interests, comfort and safety of people. Nakheel Asset Management and Infrastructure (NAMI) is an asset management company that takes care of the maintenance of any facilities, from tunnels to swimming pools in Nakheel projects. Some of the company’s projects were frozen due to the 2008 crisis, in particular, the construction of the world’s tallest skyscraper Nakheel Tower. However, in 2012, along with the stabilization of the market as a whole, the developer announced a profit for 2012 in the amount of 2.02 billion dirhams (0 million). In January 2014, Nakheel announced the repayment of more than half of its bank debt during 2014. At the moment, the largest projects of the company, which continue to develop, can be called the area of villas Al Furjan and Warsan Village. The Discovery Gardens Community Centre will be opened in 2015. 40% of the mall’s area will be occupied by the Geant hypermarket, which will meet the needs of the Al Furjan, Discovery Gardens and The Gardens districts. In June 2013, the developer sold 350 villas in the Jumeirah Park area, which is under construction, in 5 hours. Such high demand forced the company to increase the number of villas from 226 to 350. The project is scheduled to be completed in 2015.