Tuesday 6 December 2022

Deira Islands ... a new, 15.3-sq-km coastal creation.

Nakheel targets Europe market through German JV

DUBAI, October 1, 2015

Dubai-based Nakheel, a top real estate developer is leveraging its joint venture partnership with German real estate brokerage firm Engel & Völkers to target new European investors at a property expo in Munich, Germany, next week.

Nakheel chairman Ali Rashid Lootah and a team of senior managers will capitalise on the company’s relationship with Engel & Völkers by showcasing Nakheel’s Dubai developments and meeting potential new investors at Expo Real and other locations.

Nakheel signed its joint venture with the Hamburg-based premium real estate brokerage in January this year, creating a new Dubai-based company specialising in selling and leasing land and properties across the emirate. Located at Nakheel’s head office, the company is now firmly established and operating under the Engel & Völkers brand.

Among Nakheel’s large-scale, master developments being showcased in Germany is Deira Islands, a new, 15.3-sq-km coastal creation that is set to transform the Deira area of Dubai into a vibrant tourism, retail and leisure hub, and add 40 km, including 21 km of beach, to Dubai’s coastline.

The project, master-planned and developed by Nakheel in line with the Government of Dubai’s vision for 2021, includes waterfront hotels, serviced residences, marinas and retail attractions, including Nakheel’s Deira Mall and Deira Islands Night Souk.  Nakheel is also planning to build five hotels at Deira Islands, and already has joint ventures with Spain’s RIU Hotels & Resorts and Thailand’s Minor Hotel Group for two of them.

“Our joint venture with Engel & Völkers brings together our unrivalled Dubai real estate expertise and their long-standing international brokerage experience and network. Through this exciting partnership, we can tap into new markets and give investors the opportunity to become part of Dubai’s future. Expo Real is the perfect platform for this,” said Lootah.

Engel & Völkers has more than 600 offices based in 36 countries spanning four continents. Among them is its new, 850-sq-m Dubai Market Centre, based at Nakheel’s Palm Jumeirah offices, opened earlier this year.

David Scheffler, COO of EV MMC Management, said: “Engel & Völkers has been able to establish itself successfully in the real estate market in Dubai. I am convinced that we will soon achieve our common goals, thanks to the outstanding and close collaboration with Nakheel. We look forward to meeting more investors at Expo Real next week and introducing them to the Dubai real estate market.” – TradeArabia News Service

Tags: nakheel | Deira Islands | Engel & Völkers |

More Construction & Real Estate Stories

calendarCalendar of Events