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Nakheel Properties

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Nakheel
Company typeGovernment owned
IndustryReal Estate
Founded2000; 25 years ago (2000)
Headquarters
Dubai
,
United Arab Emirates
Area served
87 countries
Key people
Ali Rashid Ahmad Lootah
(Executive Chairman)
Sanjay Manchanda
(Chief Executive Officer)
Number of employees
2000
Websitewww.nakheel.com

Nakheel (Arabic: نخيل palms or palm trees) is one of the world’s leading property developers, based in Dubai, United Arab Emirates and is a major contributor to realizing the vision of Dubai for the 21st century: to create a world-class destination for living, business and tourism.

The Chairman of Nakheel is Ali Rashid Ahmed Lootah. The CEO of Nakheel is Sanjay Manchanda.[1]

Portfolio

Nakheel has an iconic portfolio of innovative landmark projects in Dubai across the residential, retail, hospitality and leisure sectors. Master developments include Palm Jumeirah, The World, Deira Islands, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Al Furjan, Warsan Village, Dragon City, International City, Jebel Ali Gardens and Nad Al Sheba.

Nakheel’s current and future retail project developments include Ibn Battuta Mall, Dragon Mart 1 and 2, Golden Mile Galleria, Nakheel Mall, The Pointe, Deira Mall, Deira Islands Night Souk, Warsan Souk, Al Khail Avenue, The Circle Mall and Nad Al Sheba Mall, as well as major extensions to Dragon Mart (renamed Dragon City) and Ibn Battuta Mall. The retail profile also includes several neighbourhood community centres.[2]

Ownership

On July 6, 2011, Dubai World’s board of directors announced that Nakheel's legal ownership would be transferred to the Government of Dubai upon completion of the company's financial restructuring.[3]

Financial performance

In the first quarter of 2017, Nakheel announced its highest annual net profits in the company’s history: AED4.96 billion in 2016 – a 13 per cent increase on the 2015 net profit of AED4.38 billion. Nakheel generated a net profit of AED955 million for the last quarter of 2016 – up 22 per cent on the AED781 million posted for the same period in 2015.[4]

New projects

Palm 360 is an iconic, twin-tower luxury hotel, apartment and penthouse complex on Palm Jumeirah’s western crescent. Soaring more than 220 metres above Palm Jumeirah, Palm 360 offers all-round, uninterrupted views of The Palm, the Arabian Gulf and the Dubai skyline.[5]

The Palm Tower is a 52-storey, 220 metre tall luxury residential and hotel and complex under construction at the heart of Palm Jumeirah. St Regis hotel with 289 rooms occupying the first 18 floors and 502 luxury residences above. Rooftop infinity pool, restaurant and viewing deck. Hotel guests will have free access to the nearby, upcoming St Regis Beach Club; residents will benefit from preferential membership deals.[6]

Part of Nakheel’s Palm West Beach complex, the St. Regis Beach Club will offer exclusive dining, leisure and fitness venues alongside mesmerising views of the Arabian Gulf. This includes modern, fusion dining concepts new to the UAE, an infinity edge pool stretching almost 100 metres along the seafront, and a state-of-the-art gymnasium.[7]

Nakheel Mall is directly connected to The Palm Tower, with 350 shops, restaurants and entertainment outlets including Waitrose and VOX Cinemas. The rooftop dining deck offers extensive views of Palm Jumeirah, the Arabian Gulf and Dubai skyline.[8]

The Pointe is a new waterfront dining and retail complex under construction at the tip of Palm Jumeirah, across the bay from Atlantis. The Pointe features 145 restaurants and shops and a 1.5 km promenade.[9]

Deira Islands, a spectacular mixed-use waterfront development, comprising four man-made islands is situated adjacent to Dubai’s Deira district. Deira Islands features the Deira Islands night Souk, the upcoming Deira Mall, Deira Towers and the Boulevard.[10]

The Palm Promenade is a walkable beach, park, retail and café complex. Stretching 1.5 kilometres along the island’s trunk, with new walkways and road crossings connecting the area’s 30 apartment buildings with Al Ittihad Park, Palm West Beach and the growing number of retail, dining and entertainment facilities on The Palm.[11]

The Palm Gateway is a triple-tower residential, retail and beach club complex located at the entrance to Palm Jumeirah. 1,265 luxury homes across three high-rise buildings, to be constructed on top of the existing Palm Monorail terminal, which includes 14 levels of parking spaces. Apartments range from one to three bedrooms.[12]

Palm West Beach is a new beach destination for Palm residents and visitors, stretching 1.5 km along the western trunk of Palm Jumeirah. Palm west Beach features a shaded park and promenade with retail kiosks, children’s play areas and waterfront restaurants.[13]

The Boardwalk is a vibrant destination for fitness, leisure, shopping and dining, covering the entire 11 km length of Palm Jumeirah’s protective crescent.[14]

References

  1. ^ "Chairman's Message". www.nakheel.com. Retrieved 2017-03-12.
  2. ^ "Communities". www.nakheel.com. Retrieved 2017-03-12.
  3. ^ "Dubai Government to take over Nakheel and Limitless". Dubaichronicle.com. 2011-07-06. Retrieved 2015-04-23.
  4. ^ "Nakheel declares highest annual net profit in its history at AED4.96 billion in 2016". www.nakheel.com. Retrieved 2017-03-12.
  5. ^ "Nakheel unveils ultra-luxury, 12,000 sq ft penthouses at Palm 360 on Dubai's Palm Jumeirah". {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  6. ^ "The Palm Tower". thepalmtower.com. Retrieved 2017-03-13.
  7. ^ "Nakheel brings St. Regis branded Beach Club to Dubai's Palm Jumeirah". www.nakheel.com. Retrieved 2017-03-12.
  8. ^ "Nakheel Mall". www.nakheel.com. Retrieved 2017-03-12.
  9. ^ "The Pointe". www.nakheel.com. Retrieved 2017-03-12.
  10. ^ "Nakheel reaches new heights with AED5 billion, 20-tower community at Deira Islands". www.nakheel.com. Retrieved 2017-03-12.
  11. ^ "Nakheel's Palm Promenade on parade at Cityscape Global". www.nakheel.com. Retrieved 2017-03-12.
  12. ^ "Nakheel awards AED1.4 billion contract to build The Palm Gateway triple tower and beach complex". www.nakheel.com. Retrieved 2017-03-12.
  13. ^ "Nakheel inks design and engineering contracts worth AED46 million for Deira Islands Mall and Palm West Beach". www.nakheel.com. Retrieved 2017-03-12.
  14. ^ "Nakheel serves up a truckload of treats at The Boardwalk at Palm Jumeirah". www.nakheel.com. Retrieved 2017-03-12.
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