Visitors make a beeline to Deira Islands project

Mumbai - The developer said Indian investors already account for more than 11 per cent of its customers, buying almost 4,400 villas, apartments and land plots with a combined value of around $2.5 billion.

Master developer Nakheel, which is showcasing projects worth more than $4.6 billion at the Dubai Property Show in Mumbai, is drawing visitors in droves to its stall with its showpiece new tourism hotspot - Deira Islands.
The Deira Islands coastal city will add 40km, including 21km of beachfront, to Dubai's coastline. The project paves the way for the development of hotels and serviced apartments, retail destinations, mixed-use buildings and residential waterside developments at what will become Dubai's newest hub for culture, tourism, entertainment and leisure.
Nakheel's residential developments on show in Mumbai also include The Palm Tower Residences and Azure Residences on the developer's landmark project, Palm Jumeirah, and townhouses at Warsan Village near one of its largest communities, International City.
The developer said Indian investors already account for more than 11 per cent of its customers, buying almost 4,400 villas, apartments and land plots with a combined value of around $2.5 billion.
"Indians are the top foreign property investors in Dubai, and key to Nakheel's own customer portfolio. We have a huge Indian customer base now, with one in 10 of our investors coming from India. The Dubai Property Show is an ideal platform at which to highlight our diverse range of investment opportunities, some of which are in world-famous locations such as Palm Jumeirah, where Indian people have already invested more than $300 million alone," said Nakheel chairman Ali Rashid Lootah.
"Dubai offers the complete package when it comes to real estate investment. Its excellent transport and social infrastructure attracts people from all over the world to live and work in the emirate, meaning a strong demand for rental properties. Nakheel itself has more than 17,000 rental units with long waiting lists, which is why we are building thousands more as part of our future business strategy," he said.
Last week, Nakheel announced it is planning to partner with one of Thailand's leading hotel groups, Centara Hotels & Resorts, to create a 550-room resort on Deira Islands.
The beachfront resort, complete with its own waterpark, would be the first Centara establishment in the UAE, adding another international name to the growing collection of new hotel brands in Dubai. The resort and waterpark would be located within easy reach of Nakheel's Deira Mall and Deira Islands Night Souk, which will have 6,400 shops, restaurants and cafes between them.
Sanjay Manchanda, Nakheel's chief executive officer, said the joint venture with Centara is the latest development in the company's aggressive expansion into Dubai's hospitality sector, under which 10 hotels - including five-star, all inclusive and value-for-money concepts - are planned at locations across Dubai, with five of them at Deira Islands.
Nakheel's hotel portfolio also includes the five-star Palm Tower on Palm Jumeirah, two hotels at Ibn Battuta Mall and two at Dragon City.
Speaking to Khaleej Times, Manchanda said the planned partnership is Nakheel's third joint venture for hotels at Deira Islands announced this year. The company is already working on a 750-room resort with Spain's Riu Hotels & Resorts and a 500-room Avani resort with Thailand's Minor Hotel Group.
- issacjohn@khaleejtimes.com

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