Oasis in deal to develop Nakheel island
Dubai, November 12, 2008
Oasis Group, a leading international real estate investment and development group of companies, has signed a deal with Nakheel for the purchase of Island D43, located close to the Eastern hub on Nakheel's The World project.
The partnership with the internationally-renowned master developer has been an integral part of Oasis Group's market expansion strategy, reinforcing the company's reputation as a top-tier real estate firm and a distinguished brand name in the global industry.
The company revealed that the development will be marketed globally, primarily in Asia and Russia as well as the European Union, through Oasis Group's 500 plus global agents.
Oasis Group has indicated that Island D43 will include a world-class hotel and fully-serviced residencies under an investment profit share scheme, alongside dining, shopping amenities, cultural centres of learning and schools set within a luxury beach and leisure living environment.
Oasis Group will make further announcements shortly on the marina operation designed by the region’s leading marina hospitality management company.
'This partnership with Nakheel opens another exciting chapter in Oasis Group's ongoing campaign to strengthen our foothold in key international markets,' said the CEO of Oasis Group, Dr Mostafa Elahy.
'Oasis Group shares Nakheel's vision of maintaining The World's reputation as a luxurious destination for the world's elite, and we intend to extend this vision by creating a cultural and intellectual bastion for D43 by providing the Island's founding property owners a true sanctuary for brighter living and ultimately a more sophisticated investment opportunity,' Elahy noted.
'Nakheel invites only a select number of clients to purchase properties on The World. Having been shortlisted by Nakheel as a VIP Developer, Oasis Group is proud to be one of the very few handpicked buyers, which clearly reaffirms our company's status as a highly respected and quality-oriented organisation in the business.'
Furthermore, Oasis Group's development proposal was approved by Nakheel within just 14 days, which is a highly remarkable feat and speaks highly of our vision and development plans for Island D43,' he added.
Hamza Mustafa, managing director of The World said, 'Oasis Group complements Nakheel's vision for The World. We are pleased that such an exciting project is going to be part of The World portfolio.'
'We invite only the very best investors to develop the islands within our project to ensure that The World will be the ultimate luxury tourism destination when complete. This marks another successful investment in our project.'
Island D43 is strategically situated off the virtual coast of 'China' on The World. Island D43 has a total area of approximately eight hectares, including 3.6 hectares of water areas.
Oasis Group intends to develop a total built-up area of up to 800,000 sq ft, which includes a grand boutique hotel, up to 700 units of suites, two bedroom residencies, and 3 - 4 bedroom water villas.
The project will also showcase a wide selection of restaurants, bars, high-end retail outlets, room service options and boat mooring facilities.
Other excellent value-added features of the project include water views of the inner lagoon harbour or stunning open sea vistas from all properties, stretches of pristine beaches on three sides, and easy access to the main transportation hub and public berths.-TradeArabia News Service
More Construction & Real Estate Stories
- Dubai wins Expo 2020 with HOK masterplan
- UAE property group to invest $54m in Turkey
- Industrial facility rents up in Abu Dhabi
- DB Schenker breaks ground on new Dubai facility
- Arabtec inks $1.2bn UAE hospital contract
- Oman invites bids for key airport project
- Spanish group wins $105m Kuwait cable deal
- Swicorp plans $266m Saudi property fund
- Atkins to supervise $600m project in Oman
- Damac raises $348m in London share sale