Nakheel, one of the world's largest real estate developers based in Dubai, has recently informed that its sales for the year 2008 is already showing a threefold increase as compared to 2007's full-year figures.
The developer’s own targets have been exceeded as till date, more than 6,100 Nakheel units have been sold (97%) or reserved (3%). Talking about the unit sales for 2008, there were sales of more than two third apartments (68%), over a quarter villa sales (27%) and 5% land plot sales.
Due to decline in property stocks, there was a fall in the UAE markets on Sunday, which led to fall in shares in Dubai, to its 11 month low. On the other hand, Abu Dhabi stocks further fell down reaching to their lowest level since the month of November.
On Sunday, the Dubai benchmark stock index fell to 4.6% and closed at 4,471.71. It happened as a result of sell-off from foreign institutions and local investors.
- Postage Prices will Decrease from Sunday; USPS not too Happy About It
- Marriott and Starwood Hotels & Resorts Worldwide Inc Shareholders Approve to $14.41 Sales Deal
- UK plan to impose additional tax on sugary drinks
- Obesity during pregnancy may increase risk of very ‘large babies’
- Dropping Sales at Gap’s Key Brands hurt the Company’s Shares