Three Fold Sales Confirmed by Nakheel in Real Estate

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.

Total of 13 launches took place to release these units, which took place between 1 January and 31 August 2008. The Q4 of this year will see a further release of 2,650 units which will be done through 11 sales launches.

Demand for Nakheel's Dubai properties continues to rise across residential and commercial sectors. We see no signs of this demand abating despite recent gloomy predictions from one or two analysts. “If you compare the expansive vision of Dubai to the construction capacity constraint, which is currently around 80,000 dwellings per year, and if you believe that population growth will continue to rise by 6-7% per annum, then by 2020 we will still not have enough residences to meet demand,” reported Manal Shaheen, Director, Sales, Marketing and Customer Service, Nakheel.

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