Dubai-based real estate master developer Nakheel , creator of some of the world’s most famous landmarks including Palm Jumeirah, is heading east to showcase new projects with construction values of over US$4.6 billion at the Dubai Property Show in Hong Kong this week.
Nakheel , whose projects already span more than 15,000 hectares and provide homes for over 200,000 people, is the biggest developer at the show, which will highlight Dubai’s unrivalled opportunities for real estate investment. Nakheel will exhibit a diverse range of new master developments, residential properties and retail and hospitality projects at the three-day event.
Investors from Hong Kong and other parts of the Far East and South-east Asia have already bought around 500 villas, apartments or land plots from Nakheel , spending a combined US$245 million in the process. Chinese investors account for nearly 80 per cent of these purchases: 390 properties worth US$212 million. The biggest group of overseas investors with Nakheel is Indians (4,400 properties worth US$2.5 billion).
Thousands more Chinese people have invested in Dragon Mart, Nakheel ‘s sprawling, recently-expanded retail and trading complex in Dubai. Dragon Mart is the world’s biggest Chinese trading hub outside mainland China, with more than 4,000 shops, restaurants and entertainment outlets welcoming an average 80,000 visitors daily.
Nakheel Chairman, Ali Rashid Lootah, said: “The Dubai Property Show is the ideal platform from which to highlight how investors in Hong Kong can be part of the Dubai real estate success story, as end-users or with a view to renting out.
“Dubai’s excellent transport, education, trade and leisure facilities act as a magnet for people to live and work in the emirate. These people need accommodation, meaning a huge demand for rental properties, which offer substantial investment returns. We look forward to further strengthening our relationship with investors in this part of the world through this exciting event.”
Nakheel ‘s projects on show in Hong Kong include the 15.3 square kilometre Deira Islands coastal city; luxury high-rise apartments in the 52-storey Palm Tower and high-end waterfront units at Azure Residences at Palm Jumeirah; and spacious three-bedroom townhouses at Warsan Village, a new, gated community located near Dragon Mart and Nakheel ‘s biggest master community, International City. Warsan Village and International City are already home to 300 investors from China and the Far East.
Deira Islands
Deira Islands, Nakheel ‘s new, 15.3 sq km waterfront city, is set to transform Dubai’s Deira district into a world-class hub for tourism, retail and entertainment, adding 40 km, including 21 km of beachfront, to Dubai’s coastline in the process.
The project will contribute significantly to the Government of Dubai’s tourism vision by paving the way for the development of hundreds of new hotels, serviced apartments, mixed-use buildings and residential waterside developments.
Nakheel itself is developing a significant amount of the 4.5 million square metre south island, creating a unique creek side destination with an array of retail, entertainment and hospitality attractions including Deira Mall; Deira Towers and Boulevard and Deira Islands Night Souk. Nakheel is also developing five hotels at Deira Islands, with planned joint ventures already announced for three of them with Spain’s RIU Hotels & Resorts, Thailand’s Minor Hotel Group and Thailand-based Centara Hotels & Resorts.
The Palm Tower Residences, Palm Jumeirah
The 52-storey Palm Tower, currently under construction at the heart of Palm Jumeirah, is a landmark development with 504 luxury residences and a five star, 290-room hotel – to be managed by Starwood Hotels & Resorts under the luxury St Regis brand – with an array of dining and leisure facilities, including a rooftop infinity pool, restaurant and viewing deck
The Residences, on sale from around US$460,000, comprise furnished studios and one, two and three bedroom apartments with uninterrupted, panoramic views of Palm Jumeirah, the Arabian Gulf and the Dubai skyline.
The Palm Tower is adjacent and linked to Nakheel Mall, also under construction, meaning residents will have more than 300 shops, cinemas, medical facilities, fitness centres and a roof terrace with fine dining outlets on their doorstep. Palm Jumeirah’s beach clubs and other retail and entertainment outlets are within easy reach, too.
Azure Residences, Palm Jumeirah
Azure Residences is a new collection of beachfront apartments and dining outlets on Palm Jumeirah’s eastern shoreline. With spectacular views of the Arabian Gulf and Dubai’s skyline, Azure Residences includes 170 one and two bedroom apartments – which will ready for occupation by summer – and nine restaurants, including the Breakwater signature restaurant with 360 degree water and city views. There is also a sea-facing infinity pool, rooftop gym, 266 car parking spaces and mooring facilities for water taxis.
Apartments come with an equipped kitchen and private terrace. Prices start from approximately US$690,000 for one bedroom units and US$1.28 million for the two bed option. All two bedroom units have a maid’s room. Azure Residences is close to a wide range of Nakheel retail, dining and entertainment developments on the island, including the newly-opened Golden Mile Galleria and the upcoming Nakheel Mall, The Pointe, Palm Tower, Boardwalk and Palm Promenade.
Warsan Village
Warsan Village is a new gated, mixed-use community with over 1,300 quality, three-bedroom townhouses, a sprawling souk with 1,170 shops, a mosque and a sports and recreation centre.
Currently under construction, Warsan Village is set on a 47.5 hectare site close to the recently expanded Dragon Mart retail hub.
Each town house covers 2,000 square feet and comes with a maid’s room, three bathrooms, powder room, two balconies, private garden and parking for two cars. Prices start at around US$480,000.
At the heart of Warsan Village will be a recreation centre with swimming pool, sports courts and gymnasium; a mosque with car parking; and extensive shaded, green space including a large park with a 1.7km jogging track. The community also features Warsan Souk, a vibrant retail and dining hub with 1,170 shops, two department stores and 30 cafes and restaurants with indoor and outdoor dining. The souk, designed as a modern take on a traditional Arabic souk is already fully leased.
Nakheel is also offering investment opportunities at a diverse selection of large-scale retail, dining and entertainment hubs in Dubai. Among them are Nakheel Mall and The Pointe on Palm Jumeirah; Deira Mall on Deira Islands and Al Khail Avenue and the Circle Mall at Jumeirah Village.
Nakheel and its projects,was in stand D8 at the Dubai Property Show, Hong Kong Convention and Exhibition Centre, 28-30 January 2015.
