Real Estate

Nakheel posts Dh600M sales in past 4 months

Staff Report/Dubai
Filed on July 16, 2020 | Last updated on July 16, 2020 at 02.34 pm
Nakheel's Nad Al Sheba villas have been its best-selling properties in the past months.

Almost 250 units sold; ready-to-occupy villas most in-demand

Master developer Nakheel has sold almost 250 properties with a total sales value of over Dh600 million in the last four months, with ready-to-occupy villas most in-demand.

Top of home-buyers' shopping lists are Nakheel's family villas at Nad Al Sheba, where a third phase of ready-to-move-into properties has just been released, after phases one and two sold out in June. Nakheel has now sold 205 villas at the Nad Al Sheba community, where a retail and recreation centre is due to open in the first quarter of 2021.

Nakheel has also seen a surge in demand at Al Furjan, where 36 ready homes have been sold since March, with just a handful of the most recently completed phase remaining.

Aqil Kazim, Nakheel's chief commercial officer, said: "The figures speak for themselves. There is an appetite for quality, ready homes, with investors taking advantage of attractive terms to get on the property ladder, or to upsize."

"Having sold out of Nad Al Sheba phases one and two, we are now selling the third phase on a daily basis, and will release more ready homes as the year goes on. Our customers include a growing number of first-time buyers, and we are witnessing an increase in female investors, too," he added.

"This hive of sales activity, achieved despite challenges associated with the Covid-19 pandemic, further highlights investor trust in Dubai real estate and the Nakheel brand."

Nad Al Sheba, one of Dubai's most traditional residential areas for Emiratis, is a favourite with young UAE nationals who want to live near their families, but is also attracting investors from other parts of the country.

One such investor is Juma Al Kaabi, an Al Ain-based Emirati who purchased a Nad Al Sheba villa because of its size, location and nearby amenities.

"As a businessman with interests across all emirates, I needed a base for when I am in Dubai," he said. "The villa, my first property in Dubai, ticks all the boxes: High-quality build and finish, extensive living space and great accessibility for my business activities."

Another investor, 31 year old first-time buyer Sarah AlSuwaidi, was drawn to Nad Al Sheba because of its peaceful setting.

"I was looking to get on to the property ladder and chose Nad Al Sheba after visiting a friend who was already living there. I noticed the tranquil surroundings and decided it was the location for me."

Nakheel's Moroccan- and Mediterranean- style homes feature large living spaces. The community has its own retail and leisure centre, due to open in the first quarter of 2021, with amenities including a supermarket, ladies' and gentlemen's salons, restaurant, coffee shop, pharmacy, swimming pool and sports court.

The community is just off Sheikh Mohammed bin Zayed Road, close to top-quality schools and within easy reach of Dubai International Airport and other landmarks.

Four- and five-bedroom villas at Nad Al Sheba are available to Emirati and GCC investors, with prices from Dh2.398 million.

Al Furjan, one of Dubai's fastest-growing communities, has its own retail pavilion, a community sports and leisure club, and is a short distance from Ibn Battuta Mall.


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