Nakheel delivers 3 projects

Nakheel has completed three major projects comprising of the Emirati buildings in the International City, the cluster area of its Jumeirah Heights and the Jumeirah Islands – Mansions, the master developer announced on Wednesday. Briefing journalists during a media tour of the properties, Sanjay Manchanda, Acting CEO of Nakheel, said that Nakheel has started handing over the units to its customers as scheduled in the International City, the residential development, consisting of 1663 units in 26 buildings. These buildings have been designed on an Emirati theme to complement the different themes of the Residential District of International City. Similarly, 246 units in Jumeirah Heights and 31 luxury villas in Jumeirah Island – Mansion development are in the process of being handed over to the respective owners, he said. “The homeowners are moving in and are pleased and satisfied; Nakheel continues to fulfil meeting its planned targets by delivering sustainable residential communities in Dubai,” Manchanda said. He was accompanied by Nakheel management’s Mohammed Rashed bin Dhabeah, Managing Director, Nakheel Projects, Development and Shared Services, Ali bin Damithan, Director Customer Services, and Alia bin Hendi, Manager Nakheel PR and Communications Department. In accordance with the restructuring plan, Nakheel is to develop 8,252 units across various developments in Dubai. To date, the handover of 3,549 units has been successfully completed with remaining units planned for hand over in 2012 and early 2013. The real estate sector is showing signs of maturity and, it is vital for Nakheel to continue 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.  Furthermore, the retail sector continues to prosper in Dubai and remains the focus concentration area for the company, a statement issued by Nakheel said. Whilst Nakheel is committed to fully implement its restructuring plan, the company is also working closely with the government in carefully planning and evaluating future projects to ensure Nakheel plays its role of a master developer in a responsible manner contributing to the development and growth of the real estate sector in Dubai, the UAE, it added.