A partnership between a Dubai master developer and another international building firm is set to provide a big boost to one of the world’s biggest property investment projects.
Nakheel and The Land Holding have shaken hands to work together on a project at Waterfront, Dubai, a scheme which will cover an overall space twice the size of Hong Kong Island.
The pair announced their deal following talks at last week’s Cityscape Dubai property exhibition.
Yousuf Kazim, managing director of Nakheel Joint Ventures, said: “Nakheel is changing the map of Dubai with a portfolio of landmark developments.
“The Land meets the high standards we demand from all of our joint venture partners across project delivery, quality and sustainability.”
Waterfront, a Nakheel project, will add 70km to the Dubai coastline and includes a wealth of real estate investment opportunities.
It will house an estimated population of 1.5 million people and will be built in three main phases.
Units overlooking the ocean in Dubai currently command high values, with units priced at around AED 3,700,000 or more for three-bedroomed homes.
Nakheel is also the name behind several other Dubai mega-projects including Palm Jumeirah and the World.
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