Nakheel’s new project

Palm Jumeirah town houses will contribute to “very active” Q4

Palm developer Nakheel unveiled a new 102 beachfront townhouse development on its Palm Jumeirah.

The first of a string of expected new projects over the “next few years”, chairman Ali Rashid Lootah said the company expects a”very active last quarter” in 2011.

“We are focusing on delivering units and services to existing investors and residents,” Lootah said.

“Nakheel is focused on the delivery of a number of projects that are nearing completion and the senior management team is actively engaged in ensuring timely delivery of these units to the satisfaction of its stakeholders,” he continued, adding that its sukuk – Islamic bonds- is undervalued in the market place.

Following its financial restructuring, the company plans to extend its retail division and increase community services. The Palm Park will also be opened to the public soon.




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