Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

UAE - Nakheel to build on success  Join our daily free Newsletter

MENAFN - Khaleej Times - 02/01/2014

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Khaleej Times) After a very successful year in 2013, Nakheel sees sustainable growth in Dubai's property sector and said it will continue to expand in 2014, according to its chief executive officer.

"We will build on the success of 2013 by seeking and identifying opportunities that will benefit both Dubai and Nakheel. We will continue to expand and diversify our growing project portfolio in 2014, while working to enhance and improve the existing communities," Sanjay Manchanda told Khaleej Times.

Manchanda also mentioned that 2014 will see some of Nakheel's new, post-restructuring projects, including Palma Residences and Dragon Mart Phase 2, come to fruition. Nakheel has gone from strength to strength in 2013, with robust financial results, thousands of property handovers and the launch of several new projects, with a very healthy response from investors. The property developer also awarded millions of dollars of contracts, in addition to millions of dollars of sukuk profit payment in 2013.

Last year Nakheel announced a range of new destination and tourism projects on Palm Jumeirah, including Nakheel Mall, The Boardwalk and West Beach, as well as a unique destination development - Deira Islands - which will provide infrastructure for dozens of hotels, bring a host of new tourism, cultural, business and residential facilities to Dubai, and play a key role in realising Dubai's vision for the 21st century. New residential projects were launched across various Nakheel communities including Jumeirah Park, Warsan Village, Jumeirah Islands, Al Furjan and Palm Jumeirah.

Talking about the challenges in 2013, the chief executive said: "Meeting customers' expectations and ensuring projects delivering on time were some of the challenges noted in 2013. However, with careful planning, teamwork and support from various authorities including Dewa, Rera, DLD and RTA, Nakheel successfully delivered a large number of developed units to customers."

Last year was very important for the property market in terms of regulation as the UAE Central Bank introduced new rules to restrict speculation in the property market. The Central Bank issued a new mortgage lending regulation in October, which allows banks to provide loans of up to 80 per cent of the property value to Emiratis and 75 per cent to expatriates. The new rules came into effect from December 28, 2013.

"The mortgage cap will help ensure that genuine buyers, not speculators, invest in Dubai property, keeping speculation down and avoiding the challenges faced in previous years. At Nakheel, our projects are generally sold to cash buyers who pay via a post-dated cheque payment plan, with minimal mortgage arrangement," Manchanda said.

 






  MENA News Headlines
Apr 23 2014Kowait: 5938 illegal residents said 'rectified' status ,Arab Times
(MENAFN - Arab Times) Kuwait city april 5 (kuna): up to 5 938 illegal residents have modified their status since formation of the central agency for remedying illegal residents' status in 2011 ...

Apr 23 2014Kowait- 'All must join hands to save youth from strife' ,Arab Times
(MENAFN - Arab Times)  kuwait city april 9 (kuna): minister of information and minister of state for youth affairs sheikh salman al-sabah said tuesday the youth ministry has completed a study ...

Apr 23 2014Kowait- MoH boosts efforts to curb obesity rate ,Arab Times
(MENAFN - Arab Times)  kuwait city feb 3 (kuna): director of the health well-being division of the ministry of health dr abeer al- baho affirmed sunday that the ministry scaled up the efforts ...

Apr 23 2014UAE- Local international companies come out in force ,Khaleej Times
(MENAFN - Khaleej Times) Cityscape abu dhabi has started showing stronger interest from property developers who have showcased their upcoming projects. the three-day realty show was opened by ...

Apr 23 2014UAE- ADCB NIC in Dh950 million deal ,Khaleej Times
(MENAFN - Khaleej Times) Abu dhabi commercial bank or adcb this week inked a dh950 million term facility to provide national investment corporation or nic the developer of the breakwater area in ...

Apr 23 2014Galadari Automobiles unveils all-new 2015 Mazda3 in UAE ,Khaleej Times
(MENAFN - Khaleej Times) The all-new mazda3 was unveiled to the world at events held simultaneously in five cities where the consensus was loud and clear: ?mazda has done it again!? galadari ...

Apr 23 2014Kowait- Parliament refuses to lift MP immunity ,Arab Times
(MENAFN - Arab Times) Kuwait april 3 (kuna): the national assembly committee on legislative and legal affairs has turned down a request from the public prosecution on wednesday to lift the immunity ...

Apr 23 2014Kowait- Police deportation powers curbed ,Arab Times
(MENAFN - Arab Times) Kuwait city april 3 (afp): kuwaiti police will no longer be able to deport expatriates without interior ministry approval under new rules published thursday after officers ...

Apr 23 2014Kowait- Amiri Diwan urges all off tape case ,Arab Times
(MENAFN - Arab Times)  kuwait city april 9 (agencies): the amiri diwan has called on everybody to steer clear of the controversial tape issue and let the public prosecution take the necessary ...

Apr 23 2014UAE- Cassation Court upholds' drug dealer's life term ,Khaleej Times
(MENAFN - Khaleej Times) The abu dhabi court of cassation on monday upheld the life sentence awarded to a gcc national for drug smuggling and trafficking. the court also upheld his one-year ...

Apr 23 2014Kowait- New hospital to be ready by 2014 end ,Arab Times
(MENAFN - Arab Times) Kuwait city jan 14 (kuna): director of the 'mega projects 3' group at kuwait oil company (koc) yaqoub dashti said on tuesday that the new ahmadi hospital would be ready to ...

Apr 23 2014Kowait- Rationalization of water use in focus ,Arab Times
(MENAFN - Arab Times) Kuwait city april 7 (kuna): under the patronage of minister of electricity and water abdulaziz al-ibrahim kuwait environment protection society (keps) organized monday a ...

Apr 23 2014Breaking an egg ... for charity in Abu Dhabi ,Khaleej Times
(MENAFN - Khaleej Times) The campaign which runs till the end of april features a live exhibition to the public and a private auction of the life-sized eggs. shaikh nahyan bin mubarak al nahyan ...

Apr 23 2014UAE- Dewa and GE explore collaboration opportunities ,Khaleej Times
(MENAFN - Khaleej Times) Saeed mohammed al tayer managing director and chief executive officer of the dubai electricity and water authority (dewa) recently received a ge delegation to explore ...

Apr 23 2014UAE- Sale of Gate Towers penthouses launched ,Khaleej Times
(MENAFN - Khaleej Times) Aldar properties has launched the sale of 21 exclusive duplex penthouse apartments at gate towers the penthouse collection in shams abu dhabi on al reem island. one of ...

Apr 23 2014Kuwait- Five individuals tested negative for Coronavirus ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Health Authority of Abu Dhabi (HAAD) announced here on Tuesday that five more of the individuals who were in isolation in hospital with MERS Coronavirus ...

Apr 23 2014Jordan complains to UNSC about Israeli "alarming" developments in Al-Aqsa compound ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Jordan on Tuesday complained to the Security Council about the unhindered incursions into the Haram Al-Sharif compound by Israeli settlers and extremists, under ...

Apr 23 2014Over 86 pct of Syrian chemical weapons removed from country ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Director General of the Organization for the Prohibition of Chemical Weapons (OPCW), Ahmet Uzumcu, Tuesday welcomed delivery of a further consignment of ...

Apr 23 2014Arab League: Syrian Presidential elections contradict with Geneva I communique ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Arab League Secretary General Nabil Al-Araby said Tuesday Damascus' decision to hold presidential elections on June 3 was a "contradiction of the Geneva I ...

Apr 23 2014Al Ittihad wary of Al Ain ,Khaleej Times
(MENAFN - Khaleej Times) Teams eye group c lead to take advantage of playing at home in knockouts al ain players celebrate their victory against tractorsazi tabriz (iran) in the afc champions ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help