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Nakheel highlights returning confidence in Dubai market

Nakheel highlights returning confidence in Dubai market

Nakheel, developer of the Palm Jumeirah in Dubai, has sold nearly 250 properties over the last four months.

The assets had a combined value of 600 million dirhams, defying the overall slowdown in the real-estate market and showcasing confidence returning post Covid-19.

Most of the buyers snapped up ready-to-occupy family villas away from densely populated city centres such as Nad Al Sheba and Al Furjan near Jebel Ali.

The developer said there has been a surge in buyers, including first-time and female investors, entering the property market recently.


Its units at phases one and two in Nad Al Sheba, which is known for its peaceful surroundings, were sold out in June.

According to Aqil Kazim, Nakheel chief commercial officer, the latest sales transaction data showed that there is still a demand for residential properties amid the current economic turmoil.

“This hive of sales activity, achieved despite challenges associated with the COVID-19 pandemic, further highlights investor trust in Dubai,” said Kazim in a statement.

“The figures speak for themselves.

There is an appetite for quality, ready homes, with investors taking advantage of attractive terms to get on the property ladder, or to upsize,” he added.

With a lot of its properties sold out, Nakheel is expected to release more completed projects this year.