How Nakheel is going to reshape Dubai
Nakheel is working vigorously on the projects that have already been launched and doesn’t hesitate to announce the upcoming projects as well. And Nakheel’s plans are so bold and ambitious, that its novelties might dramatically affect the image of the entire Dubai. And this is not an exaggeration: with more than $2 bln investments that the company is going to put into the future and currently developing projects, the company’s next moves might come like a thunderbolt into the market, even in a city that “futuristic” and quite used to grandiose and epochal constructions.
Nakheel‘s upcoming projects
Still the company doesn’t pursue fame for pretentious grandeur of its projects, as this developer is already well-known as one of the richest, most successful and major companies of the emirate. All joking aside, in the third quarter of 2016 the company earned $260 mln of net profit, and there’s no point for Nakheel to brag about colossal renowned projects. That’s why the upcoming plans of the company are first of all aimed at increasing the revenues and the value of its assets. The only problem is that achieving this in Dubai requires development of something brand new and vast, or at least extraordinary. And the developer is going to do it this way:
42 residential estate towers in Jebel Ali Garden
The project’s budget is $2bln, and it’s going to become one of the most massive projects launched by a private company in 2016. According to the developer’s plan, the towers will host 10000 apartments with 40000 residents. On September 9 Nakheel announced its cooperation with 6 engineering and construction consulting companies in order to devise a project for the development of the neighborhood. So the date when the construction begins and when the objects are ready for sale is just a matter of time.
Nakheel‘s restaurant complex on a beach in Palm Jumeirah
The project will be named “Club Vista Mares” and it is going to be situated near Tiara Residences and Shoreline Apartments. The terraces of the building will have a stunning sea view, and the complex itself is going to have several restaurants serving Italian, Middle Eastern, European, Japanese and Ethiopian cuisines. The overall yardage of the complex it to be about 46 000 square meters, and it will be able to welcome up to 2000 visitors at once. The project’s value is $32 mln.
Nad Al Sheba residential area
Around $52 mln have been allocated for this project, and when it’s done it will include 133 apartment houses, 1572 villas and a mall with an area of 112 000 square meters. At this point the company is working on the fourth round of construction, while the third previous rounds
Twin towers with 531 luxurious suites
Seems like Nakheel only needs this project to secure and strengthen its positions in Jebel Ali: two 48 storey towers will be set near Ibn Battuta Mall on Sheikh Zayed Road and they will become a part of an immense fashionable residential complex.
Taking on account such formidable investments in such ambitious projects, we can expect Nakheel to liven up the South-Western part of Dubai near its border with Abu Dhabi. And who knows, what if the collective efforts of developers in their preparation for Expo-2020 could someday revive the idea of Jebel Ali Palm’s development as well.
Nakheel is investing over $2 bln in Dubai’s most perspective neighborhoods and is going to erect more and more iconic constructions