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FINANCIAL NEWS
Nakheel is on right track to expand
25 Jul 2013
(MENAFN) The region’s leading property developer Nakheel is on the right track to grow its retail and hospitality business as the developer has revealed plans to set new projects in addition to the expansion of existing projects, reported Khaleej Times.
Nakheel announced its contribution to the Country’s ever growing tourism sector by opening two hotels in Dubai, “We will continue to launch new projects following a strong recovery in Dubai real estate markets,” Chairman of Nakheel, Ali Rashid Lootah said.
Other development plans include the building of a community centre by 2014, which will include huge park, clubs, food and beverage outlets and other facilities.
It’s worth mentioning that the property developer has granted around USD413.7 million worth contracts to fresh investors, adding: “We have received nine bids from contractors for Jumeirah Park development and it’s a clear sign of trust in Nakheel and its properties.”
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