Nakheel completes land sales worth $114m
Dubai, November 19, 2012
Dubai-based leading real estate developer Nakheel today closed land sales worth more than Dh419 million ($114 million) in its Palm Jumeirah and Jumeirah Village Circle developments.
On The Palm, the company sold a 72,000 sq ft residential villa plot for Dh104.4 million and a 155,000 sq ft residential plot on the trunk for Dh202 million.
Nakheel also sold 122 residential villa plots in Jumeirah Village Circle, its 860 hectare master development south of Al Khail Road, with transactions there exceeding Dh113 million.
“Real estate in Dubai is on the move again,” said Ali Rashid Lootah, Nakheel chairman.
“After the recent success of our Jumeirah Park villa launch, Nakheel has now seen investors clamouring for the newly-released plots in Jumeirah Village Circle. This reveals a very clear message: confidence in Nakheel – and Dubai – is back,” he added. – TradeArabia News Service