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FINANCIAL NEWS
Nakheel delivers 770 properties in Q1
28 Apr 2013
(MENAFN) Nakheel’s CCO, Aqil Kazim, announced that during the first quarter, the company has handed over more than 770 properties, reported Arabian Business.
Kazim said that by the end of 2013, the Dubai-based developer would deliver an additional 3,000 units in delayed projects, including Jumeirah Vilage and Jumeirah Park.
He added that although the delivery took several years, however, customers are happy to finally take delivery of properties they have acquired.
Kazim stressed that Nakheel has no suspended or installed projects, noting that projects had been prioritized as either short term or long term, including the Dubai Waterfront.
It is worth noting that Nakheel was highly affected by Dubai’s 2009 debt crisis, when property prices dived by 60 percent, forcing the company to downsize some of its schemes and in 2011 agreed a USD16 billion restructuring agreement with its lenders.
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