International Finance
Featured Real Estate

UAE developer Nakheel sells $323 mn worth of ready-to-occupy villas

UAE Nakheel_IFM_Image
Nakheel sold 500 units in the last six months

UAE-based master developer Nakheel has revealed that it sold ready-to-occupy villas worth $323 million during the last six months in the emirates, media reports said.

During the period between March and September, Nakheel has sold around 500 units.

Chief Commercial Officer Aqil Kazim told the media, “The last six months have seen a surge in sales of spacious, high quality family accommodation, with investors taking advantage of favourable deals to buy their first home or move to a bigger one.

“Lifestyle changes in the wake of the coronavirus pandemic have boosted demand for more indoor and outdoor family living space. With the cooler weather approaching, people will be even more keen to have a garden of their own. Having sold out at Al Furjan, we continue to close deals at Nad Al Sheba on a daily basis, and are gearing up for heightened sales activity in the coming weeks, ” he added.

It is reported that Nakheel’s 800-room joint venture with Spain’s RIU Hotels & Resorts, Riu Dubai is set to open in December 2020 at Deira Islands.

The resort has 800 rooms and suites, most of them with a sea view. It comes with 10 food and beverage outlets, three swimming pools, two children’s pools, a fitness centre, spa, beauty salon, children’s club and conference facilities.

Dubai’s real estate sector has witnessed the completion of around 14000 residential units during the first six months of this year, despite Covid-19 crisis. This is about 30 percent of the units that are scheduled to be handed over in 2020.

What's New

Insurance claims for rain-related losses in UAE may face denial

IFM Correspondent

Abu Dhabi Islamic Bank in talks to buy stake in Bank Syariah Indonesia

IFM Correspondent

Five customer retention strategies you must follow


Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.