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Cirrus becomes first successful bidder in Nakheel's land auctions
DUBAI - Cirrus Developments LLC, one of the fastest growing developers in the region, has become the first successful bidder in Nakheel's sealed bid land auctions.
Last week, Nakheel introduced this new method for land sales for 49 plots within the Canal District at Waterfront. Not only was Cirrus the first developer to be successful, it also managed to win the bid for one of only two plots which allow for the development of a five star resort.
As part of its resort in the Canal District, Cirrus will be building a luxurious low rise development which will include a five star hotel, retail mall and residential community featuring serviced villas and apartment buildings. This area is a highly desirable location within Nakheel's Waterfront development. Built over 1.8 million square metres of land, the Canal District will ultimately house a population of 75,000 people and is due for completion in 2016.
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