Al Nakheel
Properties, which is also known as Nakheel Corporation,
is the most popular real estate company dealing
in freehold property in Dubai, United Arab Emirates
[UAE]. Its real estate development ranges into residential,
tourist, commercial and retail property.
Nakheel
Properties' flagship property are the 3 man-made
palm tree shaped islands on the coast of Dubai.
Nakheel operates under the umbrella of The Corporate
Office, which manages various businesses on behalf
of the Dubai government. The executive chairman
of Al Nakheel is Mr. Sultan Ahmed bin Sulayem.
Nakheel has sold out of its latest villas launched at Jumeirah Park and Jumeirah Village Circle, with combined sales values of almost Dhs1.9bn, the company announced.
Nakheel made a net profit of Dhs491m in Q1 2013, a 36% increase on a net profit of Dhs362m in the same period last year. Q1 2013 revenues stood at Dhs2.185bn, up 62% on revenues of Dhs1.35bn in the first quarter of 2012, the company announced today.
Construction of Nakheel’s new 8,700 square metre community centre Dubai’s Discovery Gardens is in full swing, with all 6,000 sqm of available shop space now booked by retailers and restaurants.
Nakheel is further expanding its Palm Jumeirah project portfolio with the launch of Azure Residences, a collection of beachfront apartments and dining outlets overlooking the Arabian Gulf and Dubai’s world-famous landmarks.