Dubai-based master developer Nakheel announced on Monday that it would unveil real estate projects worth more than 3.2 billion UAE dirhams at Cityscape Global 2017.
The 16th edition of this annual international real estate industry event will run from 11-13 September at Dubai World Trade Centre.
Nakheel said in a press statement that it will launch six new residential, retail and hospitality developments at four of its communities in Dubai including its flagship master development, Palm Jumeirah at Cityscape.
According to the statement, the developer has more than 50 billion dirhams worth of projects under way in terms of infrastructure and construction costs. It has awarded construction contracts to the tune of 7 billion dirhams so far this year, and expects the figure to exceed 12 billion dirhams by the end of 2017.
Nakheel Chairman, Ali Rashid Lootah, said in the statement that while development remains its core business, the company is also focussing on growing its “hospitality, retail and leasing divisions by creating a range of new hotels, resorts, F&B destinations, malls and tourists attractions across the city.”
The developer said that more than 27,000 investors have collectively spent over 110 billion dirhams on 41,000 land plots or built-form units it has developed since the first properties went on sale in 2002.