Property | UAE

Nakheel closes land deals worth nearly Dh700m on Palm Jumeirah

The company is currently constructing a number of residential projects on the island

  • WAM
  • Published: 14:50 July 1, 2013
  • Gulf News

Dubai: Nakheel has sold two hotel plots on Palm Jumeirah’s crescent for a combined value of almost Dh700 million, the Dubai developer said on Monday.

A plot to the west of Atlantis was sold to a GCC investor for Dh556 million, while an Emirati investor purchased a plot on the eastern crescent for Dh139 million, Nakheel said in a statement.

The company is currently constructing a number of residential projects on the island and work on the Nakheel Mall and Hotel and The Pointe will begin this year. Palm Jumeirah is also home to the UAE’s first indigenous park — a 1.1 million sq ft communal garden — opened by Nakheel last year.