Nakheel sells homes worth $125m
Dubai, September 30, 2013
Dubai government-owned property developer Nakheel said on Sunday it had sold town houses worth about 460 million dirhams ($125.24 million) in its Warsan Village project.
"As expected we witnessed a big response to the residential units ... from investors from a number of countries including the UAE, the GCC countries, India and China," a Nakheel spokesman said according to the state WAM news agency.
"We also noticed that a number of buyers were first-time investors in Dubai and a number of others are new clients of Nakheel, most of whom are end buyers," the spokesman added.
A crash of the emirate's property market in 2009 and 2010, which more than halved real estate prices, forced developers to shelve or scrap hundreds of projects.
Dubai has been recovering from a real estate crisis and property prices have begun to rebound.
Several state-funded mega-projects such as Nakheel's Palm Deira, Palm Jebel Ali and the World, a complex of man-made islands, were sold to investors but later stalled. - Reuters
More Construction & Real Estate Stories
- SPF Realty sees Dubai project success
- Abu Dhabi set for big property show
- Aldar working on $1.5bn UAE housing projects
- Gulf Finance House to start $3bn Tunisia project
- Abu Dhabi to see 10pc surge in new homes
- Saudi construction sector booming on new contracts
- Emaar offers 330 apartments in MBR City
- Dubai Design District sees big demand
- HUGE DEAL: Arabtec inks $40bn Egypt housing project
- Galfar ex-CEO gets 15 years' jail over bribes
- $32m BFH car park work underway
- Bahrain awards $5.8m project tenders
- Spinneys to set up distribution centre at Kizad
- Dubai unveils $300m hitech 'green' city project
- Deyaar plans $245m Dubai complex
- IFA unveils $272m Dubai mixed-use project
- CBRE tops Fortune’s most admired firms list
- Kuwait's real estate sales hit $1.1bn in Jan
- Dubai RTA awards $27m roads contract
- Work to start on Bahrain beach project
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings
- 'Smart' move by Dubai Design District
- Drake unit wins $13m contract in India
- Solar-powered cleaning boats launched in Sharjah
- $27m Expo Hotel Sharjah deal signed
- Arabtec unit wins $282m Emaar contract
- Abu Dhabi to host pool & spa expo