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Nakheel Nad Al Sheba master plan.

Nakheel expands leasing, hospitality and retail portfolio with 1,000 villa community at Nad Al Sheba

: Saturday, July 19 - 2014 @ 12:07

Nakheel is bringing a new, gated master planned community of 1,000 villas – including 100 high-end, serviced residences managed by a world-renowned hotel operator – to Dubai, as part of its leasing, hospitality and retail business expansion strategy, the company announced today.

Located in Dubai’s Nad Al Sheba district, 10 minutes’ drive from Burj Khalifa, the development comprises 900 three to five bedroom villas for lease and a separate resort-style complex of 100 high-end, serviced homes – all with private swimming pools – offering the ultimate in luxury, privacy and onsite facilities.

Nakheel has signed a contract for Dhs27m with Dubai-based Arif and Bintoak Consulting Architects and Engineers for design and engineering services for the project, which has an estimated construction value of Dhs2.5bn. The construction tender will be released within three months, with a contract awarded by the end of 2014, the company said. The project is due for completion in 2016.

Nakheel Chairman Ali Rashid Lootah said: “Nakheel’s new residential and resort-style community at Nad Al Sheba will further enhance our growing leasing, hospitality and retail offerings, all of which are key to our long term business strategy. Our current residential leasing portfolio of almost 17,000 homes continues to be in huge demand, with almost 100% occupancy across the entire range. We expect an equally-positive response to our new development announced today.”

Spanning 2.5 million square feet, with extensive landscaping and communal park areas, Nakheel’s gated Nad Al Sheba community will contain a host of onsite facilities for all residents, including a club house and retail centre with shops, cafes, a community pool and sports courts.

Residents and guests at the separate, 100 serviced villa complex will have exclusive access to an additional range of high-end facilities and services, an onsite health club with spa, wellness centre and lap pool, a restaurant, in-villa private dining and housekeeping and laundry services. Residents will also enjoy exclusive access to Nakheel’s beach facilities on Dubai’s Palm Jumeirah as well as daily transport services to the city’s malls and attractions.

Ali Rashid Lootah added: “This exciting new development will appeal to a wide audience, including long term leasing clients and holidaymakers looking for an alternative to Dubai’s beach resorts and city hotels. We look forward to the delivery of this new community as we continue to diversify our range of cash-generating assets in line with our future business strategy.”

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Saturday, July 19- 2014 @ 12:07 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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