Nakheel auctions more land at Jumeirah Park in response to huge demand among investors

February 27, 2014 4:37 pm

Dubai’s Nakheel is building on the overwhelming success of its Jumeirah Park land auction with a second auction on Tuesday 4 March.

The developer is releasing another batch of residential plots – ranging from 7,750 to 8,700 square feet – at its prestigious Jumeirah Park community, where land is in big demand.Investors can register from Sunday 2 March.

Earlier this week, Nakheel netted nearly Dhs34 million by auctioning eight plots at Jumeirah Park, with investors paying over AED500 per square foot.

A Nakheel spokesman said: “We had an overwhelming response to our first auction, and are gearing up for an even higher level of interest when bidding opens again on Tuesday. We urge investors to register early to ensure their chance to secure a piece of prime land at our highly sought-after Jumeirah Park community.”

Spanning 350 hectares, Jumeirah Park will have around 3,000 homes and a host of integrated facilities when fully complete. Nakheel has already delivered 1,795 luxury villas at the community, with almost 800 more under construction. In addition, Nakheel’snew114,000 sqft community centre at Jumeirah Park is currently undergoing fit out. The new facility, due to open mid-2014, will have a supermarket and nearly 30 other shops and cafes.

Nakheel’s second Jumeirah Park auction takes place at 11am on Tuesday 4 March at the Nakheel Sales Office, Al Sufouh Road, Dubai. Registration is available from Sunday. A registration fee of Dhs1,000 applies.