Nakheel claims 100% residential occupancy

Dubai government-owned developer Nakheel has seen 100 percent occupancy across its portfolio of residential projects, it was claimed on Wednesday. “The real estate sector is showing signs of maturity and, it is vital for Nakheel to continuing playing an effective role in the growth of the local real estate sector. The company is witnessing almost 100 percent occupancy across its residential portfolio reflecting a much improved residential sector compared to the past few years,” the developer said in a statement. The developer, which in September reported it wrote down AED78.6bn (US$21.4bn) from the value of its real estate during the Dubai debt crisis, was one of the biggest names hit by the collapse of the Dubai real estate market, which saw house prices in the city fall more than 60 percent from their peak. The claim came as Nakheel announced the completion of 1663 units in 26 buildings in the Emirati-themed cluster in the International City and 246 units at Jumeirah Heights and 31 villas at Jumeirah Islands - Mansions. As part of its restructuring plan, Nakheel is to develop 8252 units across various developments in Dubai and to date has handed over 3549 units, with the remainder due to be completed this year and in early 2013.