Nakheel to build 1,000 villas to increase leasing income

July 2, 2014 2:23 am

Ali Rashed Lootah, chairman of Dubai’s Nakheel, has said the developer of man-made islands off the emirate’s coast, plans to build 1,000 villas in the emirate to rent out, as it seeks to boost recurring income, Bloomberg has reported. Construction is expected to start before the end of the year and the villas would take about 18 months to complete, Lootah told the news service, without disclosing the project’s location.