Dubai’s Nakheel to launch beachfront project, townhouses

Dubai developer Nakheel has said it will launch a beachfront project and a collection of townhouses at the upcoming Cityscape conference next week.

The beachfront development will be part of the company’s wider Deira Islands master project, which is set to feature a number of hotel resorts as well as retail, tourism, residential and leisure projects with the capacity to house 250,000 people.

Read: Nakheel, Centara award construction contract for Deira Islands hotel in Dubai

The townhouses, with private pools, form part of the Jumeirah Park community.

Nakheel said it would also begin sales of its 1,142 unit Dragon Towers, twin-building apartment complex in Dragon City on September 30 and a number of other projects including PALM360 and the Palm Tower on Palm Jumeirah.

Read: Dubai’s Nakheel says Dragon Towers project to break ground in Q3

The developer has more than Dhs58bn ($15.78bn) of projects underway and has awarded Dhs7bn ($1.9bn) of construction contracts since the start of the year, including Dhs4.2bn ($1.14bn) for what is claimed to be the Middle East’s largest mall on Deira Islands.

Read: Dubai’s Nakheel awards $1.14bn contract for ‘Middle East’s largest mall’

Reuters reported this week that Nakheel was planning a return to the debt market to finance its projects.

Read: Dubai developer Nakheel plans sukuk sale, mall financing