News

Nakheel won six awards at the Transform Awards MEA 2023, which recognizes excellence in building a brand strategy. Nakheel received three gold, one silver and two bronze awards. The developer won first prize in the categories of brand evolution and architecture, as well as visual style. In 2022, the company has done significant work in brand development. Over 150 employees from all the business units were involved in the project. They all went through intensive training and, together, designed the new image of Nakheel.

Luxury Moroccan-style houses will complement the unique Damac Lagoons community, inspired by the Mediterranean coast. The new development by Damac Properties will include four- to five-bedroom townhouses and six- to seven-bedroom villas with designs reflecting the stylistics of sunny Morocco. The developer promises bohemian architecture with arches, carved wood, and Moroccan riads. In Q2 of 2023, the initial price of the property in the Morocco cluster is AED 2.92 million (USD 795,000). The expected ROI is 6% per annum. The Damac Lagoons community already includes Portofino, Venice, Malta, Nice, Santorini, Costa Brava, Marbella, Monte Carlo, Ibiza, and Mykonos clusters.

Emaar Properties has reported Q1, 2023 net income of AED 3.2 billion (USD 871 million), up by 43% compared to the same period last year. It is noted that earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 26% and reached AED 4 billion (USD 1.1 billion). Dubai real estate market continues to grow rapidly. In Q1, the volume of sales and purchases rose by 50% in quantity and 60% in value year-on-year. According to the numerous forecasts, this trend will continue throughout 2023.

The company Damac Properties, one of the major high-end developers in Dubai, has awarded the contract for building two new complexes within Damac Lagoons — Nice N2 and Nice N3. The contracting company is Delta Al Emarate Building Contracting (DEBC), a Dubai-based engineering and construction firm. The plan is to build 434 townhouses and premium-class villas within the Nice N2 cluster and 60 villas in Nice N3. In addition, both communities will feature a variety of additional amenities, including fitness areas and water attractions. Damac Properties CEO, Mohammed Tahaineh, noted that DEBC will help the company to develop the concept of a luxury lifestyle in a relaxed atmosphere with easy access to the infrastructure of a modern metropolis.

A new sought-after location for seafaring enthusiasts has appeared on Dubai Islands. Nakheel Marinas can simultaneously host 13 superyachts. It has 248 wet berths for boats of up to 47 metres and 40 dry berths for trailers of up to 20 metres. The developer company offers a large range of services for yacht owners, including a free transfer service, 24-hour assistance, waste collection and water pumping. Dubai Islands is one of the newest development projects in Dubai, consisting of five artificial islands with a total area of 17 square kilometres. Nakheel plans to fill this area with luxury real estate, beach clubs, wellness centres and hotels. Near Nakheel Marinas is Dubai Islands Beach, a recently opened public beach, where you can relax and/or check into one of the local hotels.