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FINANCIAL NEWS
Nakheel plans to begin sale of townhouses on Palm Jumeirah
26 Feb 2012
(MENAFN) Nakheel’s chairman, Ali Rashid Lootah, said that in March, the UAE developer would begin selling townhouses on Palm Jumeirah, reported Gulf News.
Lootah added that the project, which was announced in September, would be the firm’s first residential project since the property market crashed in 2008.
He also said that the project includes 102 townhouses, adding that the Palm Residence project would also comprise apartments and villas.
On the other hand, he said that Nakheel would spend USD381 million in 2012 in order to finish 9 projects across Dubai, after work was halted due to the crash in the property market.
It is worth noting that during the current year, Nakheel plans to complete 7,982 homes.
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