Property developer Nakheel is heading to French property show MIPIM to attract investors to Dubai with a host of real estate opportunities worth $2.5bn (AED9.1bn).
The developer is bringing a mix of residential units, some ready for occupation, with rental yields of up to 9%, as well as land plots for commercial, residential, and hotel developments. This mix is hoped to encourage wealthy parties to invest significantly in Dubai’s growing real estate sector.
It is the third year that Nakheel, the company behind the Palm Jumeirah, has attended MIPIM, an annual real estate expo in Cannes, France.
Commenting on MIPIM, Nakheel‘s CEO, Sanjay Manchanda, said: "The figures speak for themselves - innovative thinking and bold ambition has turned Dubai into one of the most successful and fastest-growing cities in the world.
"Nakheel is proud to play a key role in the city’s achievements and continues to spearhead ground-breaking, landmark developments that set new standards in creativity, engineering, and design. Our large and diverse range of existing and upcoming projects is pivotal to further enhancing Dubai’s position as a global hub for living, trade, tourism, leisure, and investment.”
Manchanda said he was “delighted” that Nakheel would be representing Dubai for the third year in a row at the Cannes-based property trade show and said he looked forward to highlighting Dubai’s “ever-growing, unrivalled investment opportunities”.
Separately, Nakheel reported in February 2018 that development of the $1.6bn (AED4.2bn) Deira Mall will be completed in 2021, with construction reportedly set to start in Q1 2018.
Earlier this year, in January 2018, Nakheel reported a net profit rise of 14% to $1.5bn (AED5.6bn).