Company Insights Nakheel Properties Real Estate Nakheel Properties Overview Nakheel Properties is a real estate development company based in Dubai. Founded in 2003, it was a subsidiary of Dubai World and a private state-owned enterprise. Nakheel prospered until 2007 when the financial crisis made an impact on Dubai’s real estate market, which pushed Dubai World to the brink of bankruptcy in November 2009. In March 2010, the government of Dubai rescued Dubai World, providing $9.5 billion to help ensure Nakheel bond-holders would be paid on time and in full. The company began to recover and in September 2022, Nakheel rebranded. Nakheel became a “member” of Dubai Holding, the global investment company led by Sheikh Ahmed bin Saeed Al Maktoum, in March 2024. Nakheel’s UAE retail project developments include Dragon Mart 1 and 2, Golden Mile Galleria, Deira Mall, Al Khail Avenue, The Circle Mall and Nad Al Sheba Mall. Its subsidiaries are Nakheel Malls, Nakheel Hospitality and Leisure, Nakheel Community Management and Nakheel Marine Group. In October 2024, Nakheel awarded three major contracts, valued at more than AED5 billion ($1.4 billion), to construct ultra-luxury villas on the first six fronds of Dubai’s Palm Jebel Ali. Nakheel Properties News Real Estate Jumeirah Village Circle: ‘Where the normal people live’ It might not have the glamour of the Palm but JVC has its own enduring appeal and was Dubai's busiest location for ready-home sales in 2024 January 6, 2025 Real Estate Trump Towers proposed for Saudi and UAE capitals The Trump Organization intends to build Trump Towers in Riyadh and Abu Dhabi, marking its expansion across the Gulf region. The projects will be developed in partnership with Dar Global, the global development arm of Saudi-listed Dar Al Arkan, Eric Trump, the US president-elect’s son, told Reuters. The Abu Dhabi project is scheduled for launch next year, he said. Ziad El […] December 13, 2024 Real Estate Dar Global plans two Trump-branded projects in Riyadh Real estate developer Dar Global has signed an agreement with The Trump Organization to build two “landmark projects” in Riyadh. No details were provided on the Trump-branded projects, which are set to be the fourth and fifth collaborations between the two companies. Dar Global, the international arm of Saudi-listed developer Dar Al Arkan,said the projects […] December 9, 2024 Real Estate Nakheel awards $1.4bn contracts for Palm Jebel Ali villas Dubai state-owned developer Nakheel has awarded three major contracts, valued at more than AED5 billion ($1.4 billion), to construct ultra-luxury villas on the first six fronds of Palm Jebel Ali. The contracts were awarded to Ginco General Contracting, Shapoorji Pallonji Mideast and United Engineering Construction Company (UNEC). The work scope of the contracts includes the […] October 17, 2024 Real Estate World Islands ‘still a decade away from completion’ The multi-billion dollar World Islands off the coast of Dubai will not be complete for another decade at least as logistics and costs stymie development, the man behind its biggest project has revealed. The $14 billion development, originally consisting of 300 man-made islands, was launched by the government-backed property company Nakheel more than 20 years […] October 15, 2024 Real Estate Riyadh leads Saudi Arabia’s hot property market Strong population and employment growth in Riyadh is driving a surge in real estate transactions as new properties cannot come on the market fast enough. A dramatic rise in the number of deals in the 12 months to the end of June was also visible in Jeddah and Dammam, according to a report this week […] October 11, 2024 Analysis Real Estate Lack of plots gives Palm Jumeirah added air of exclusivity Palm Jumeirah, Dubai’s world-famous man-made island, is running out of undeveloped land. Developer Nakheel’s announcement earlier this week that it will pay nearly $500 million to Alec Engineering & Contracting to build the new 75-storey Como residential tower on Palm Jumeirah is bound to be one of the last of its kind. Since it will […] September 29, 2024 Construction Belgian company wins $220m Palm Jebel Ali dredging contract The AED 810 million ($220 million) contract to complete dredging, land reclamation, beach profiling and other work at Palm Jebel Ali has been awarded to a subsidiary of the Belgian-owned Jan De Nul Group. In May the Dubai state-owned developer Nakheel announced that local contractor DBB Contracting and Khansaheb Civil Engineering, a subsidiary of Khansaheb […] August 26, 2024 Analysis Construction 3D printing fails to live up to hype for Mena contractors The Mena construction industry has been slow to adopt new technologies such as modular building, blockchain and 3D printing. The latter might be used more as a specialised tool with particular “sweet spots” than in a mass deployment, according to industry experts who spoke at the Construction Technology ConFex event in Dubai earlier this month. […] June 18, 2024 Real Estate Infrastructure work to start on relaunched Palm Jebel Ali Work has commenced on Dubai’s Palm Jebel Ali mega project with the award of new infrastructure contracts. Among the contracts is one to build a 6km-long public access road from Sheikh Zayed Road to the palm-shaped master development, Nakheel, the developer of the man-made palm-shaped island, said in a statement. DBB Contracting, a local contractor, […] May 27, 2024 Posts navigation 1 2 … 5 Next
Real Estate Jumeirah Village Circle: ‘Where the normal people live’ It might not have the glamour of the Palm but JVC has its own enduring appeal and was Dubai's busiest location for ready-home sales in 2024 January 6, 2025
Real Estate Trump Towers proposed for Saudi and UAE capitals The Trump Organization intends to build Trump Towers in Riyadh and Abu Dhabi, marking its expansion across the Gulf region. The projects will be developed in partnership with Dar Global, the global development arm of Saudi-listed Dar Al Arkan, Eric Trump, the US president-elect’s son, told Reuters. The Abu Dhabi project is scheduled for launch next year, he said. Ziad El […] December 13, 2024
Real Estate Dar Global plans two Trump-branded projects in Riyadh Real estate developer Dar Global has signed an agreement with The Trump Organization to build two “landmark projects” in Riyadh. No details were provided on the Trump-branded projects, which are set to be the fourth and fifth collaborations between the two companies. Dar Global, the international arm of Saudi-listed developer Dar Al Arkan,said the projects […] December 9, 2024
Real Estate Nakheel awards $1.4bn contracts for Palm Jebel Ali villas Dubai state-owned developer Nakheel has awarded three major contracts, valued at more than AED5 billion ($1.4 billion), to construct ultra-luxury villas on the first six fronds of Palm Jebel Ali. The contracts were awarded to Ginco General Contracting, Shapoorji Pallonji Mideast and United Engineering Construction Company (UNEC). The work scope of the contracts includes the […] October 17, 2024
Real Estate World Islands ‘still a decade away from completion’ The multi-billion dollar World Islands off the coast of Dubai will not be complete for another decade at least as logistics and costs stymie development, the man behind its biggest project has revealed. The $14 billion development, originally consisting of 300 man-made islands, was launched by the government-backed property company Nakheel more than 20 years […] October 15, 2024
Real Estate Riyadh leads Saudi Arabia’s hot property market Strong population and employment growth in Riyadh is driving a surge in real estate transactions as new properties cannot come on the market fast enough. A dramatic rise in the number of deals in the 12 months to the end of June was also visible in Jeddah and Dammam, according to a report this week […] October 11, 2024
Analysis Real Estate Lack of plots gives Palm Jumeirah added air of exclusivity Palm Jumeirah, Dubai’s world-famous man-made island, is running out of undeveloped land. Developer Nakheel’s announcement earlier this week that it will pay nearly $500 million to Alec Engineering & Contracting to build the new 75-storey Como residential tower on Palm Jumeirah is bound to be one of the last of its kind. Since it will […] September 29, 2024
Construction Belgian company wins $220m Palm Jebel Ali dredging contract The AED 810 million ($220 million) contract to complete dredging, land reclamation, beach profiling and other work at Palm Jebel Ali has been awarded to a subsidiary of the Belgian-owned Jan De Nul Group. In May the Dubai state-owned developer Nakheel announced that local contractor DBB Contracting and Khansaheb Civil Engineering, a subsidiary of Khansaheb […] August 26, 2024
Analysis Construction 3D printing fails to live up to hype for Mena contractors The Mena construction industry has been slow to adopt new technologies such as modular building, blockchain and 3D printing. The latter might be used more as a specialised tool with particular “sweet spots” than in a mass deployment, according to industry experts who spoke at the Construction Technology ConFex event in Dubai earlier this month. […] June 18, 2024
Real Estate Infrastructure work to start on relaunched Palm Jebel Ali Work has commenced on Dubai’s Palm Jebel Ali mega project with the award of new infrastructure contracts. Among the contracts is one to build a 6km-long public access road from Sheikh Zayed Road to the palm-shaped master development, Nakheel, the developer of the man-made palm-shaped island, said in a statement. DBB Contracting, a local contractor, […] May 27, 2024
