The investment cost of the Deira Islands complex, which includes 16 residential towers, four hotels and a shopping center, has reached about AED 6.5 billion, according to Ali Rashid Lootah, chairman of Nakheel, the developer of the project.
Lootah said.
Lootah said in statements that the company plans to open the leasing of retail space in the 620,000-square-foot Deira Islands Mall project next month.
Lootah said in statements that the company plans to open the leasing of retail space in the Deira Islands Mall project next month.
Lootah emphasized that Nakheel is in a strong financial position to finance the projects it has announced based on its own resources and sales proceeds from the projects as well as its ability to use available credit instruments.
Lootah emphasized that Nakheel is in a strong financial position to finance the projects it has announced.
He said that the real estate market in Dubai is able to continuously generate demand based on the emirate's leadership and progress in many fields, pointing out that despite the recent increase in talk about the current real estate correction wave, the company has not reduced the selling prices in its new projects.
Added: Nakheel has a policy of always adapting to market conditions and supply and demand levels to allow the end-user to achieve good investment returns, so the company refrained from applying successive increases in the boom and did not need to reduce prices when demand was relatively calm.
Nakheel Real Estate has not reduced its selling prices in its new projects.
It is worth noting that Nakheel Properties is developing 11.04 million square feet of retail space in Dubai through the implementation of 12 new projects with about 10,030 shops, which will increase leasing revenues from the residential and retail sector by 275% to reach about 7.5 billion dirhams by 2018, compared to 2 billion dirhams at the end of last year.
Nakheel Properties is developing 11.04 million square feet of retail space in Dubai by implementing 12 new projects with about 10,030 shops.
