Nakheel has sold out stage one of its exclusive residential community Veneto, comprising of 716 units, within five days of its launch.

As the first community to launch on Nakheel’s Waterfront, Veneto is set to become one of the most prestigious addresses in Dubai, the developer said in a statement.

With a limited number of elegant villas and low-rise townhouses, Veneto has been masterplanned to create an exclusive waterside neighbourhood on the fringe of Waterfront City, the urban heart of the new metropolis.

“Initial response to Veneto has been remarkable, re-confirming the huge demand for coastal living on the fringe of a bustling city centre. Veneto also offers something completely unique in its design, boasting stunning modern architecture unlike anything previously seen in the market. This, combined with the wealth of amenities, landscaped parks and breathtaking views across the canal, has produced an overwhelmingly positive response,” said Nakheel Managing Director for Waterfront Matt Joyce.

Veneto will comprise of 1400 villas and townhouses, and 1200 low rise apartments to accommodate an eventual population of 14,000 residents. Handover for the initial phase of villas is expected in the second half of 2009.

Waterfront, the largest waterfront development in the world, is set to transform 1.4 billion square feet of empty desert and sea into an international community for an estimated population of 1.5 million people that is twice the size of Hong Kong island, the company said. – TradeArabia News Service