Abu Dhabi: Nakheel, a Dubai-based developer, is set to assume full ownership of the remaining unsold units in the Golden Mile, which is a mixed-use development comprising residential, office and retail space on Palm Jumeirah, according to an agreement between Nakheel and Souq Residences.
The agreement relieves Souq Residences of substantial liabilities.
The agreement also paves the way for more local facilities, including a supermarket, shops, and cafes at Golden Mile, benefiting residents of the 10-building complex, and those living in other parts of Palm Jumeirah.
