| Type | Government owned |
|---|---|
| Founded | 2000 |
| Headquarters | Dubai, United Arab Emirates |
| Area served | 87 countries |
| Key people | Sultan Ahmed bin Sulayem (Executive Chairman), Chris O'Donnell (Chief Executive Officer ) |
| Industry | Real Estate |
| Employees | 2000 |
Nakheel (Arabic: نخيل palms or palm trees) is a real estate developer in Dubai and creator of several land reclamation projects, including the Palm Islands, the Dubai Waterfront, The World and The Universe Islands. Its residential projects include The Gardens, International City, Jumeirah Islands and Jumeirah Lake Towers. Its shopping projects include the Dragon Mart (At International City) and Ibn Battuta Mall. Its main competitor in residential development in Dubai is Emaar Properties.
Nakheel's flagship properties are the three man-made palm tree shaped islands on the coast of Dubai. Nakheel operates under the umbrella of Dubai World, which manages various businesses on behalf of the Dubai government. The executive chairman of Al Nakheel is Sultan Ahmed bin Sulayem.
Nakheel's portfolio of real estate include the Palm Islands (Palm Jumeirah, Palm Jebel Ali, Palm Deira), The World Islands, The Universe Islands, Dubai Waterfront, The Gardens, Jumeirah Lake Towers, Discovery Gardens, Lost City, Jumeirah Islands, Jumeirah Heights (a residential complex within Jumeirah Islands, Jumeirah Village, Jumeirah Park, Al Furjan, International City, Jewel of the Palm, The Golden Mile (which is in the trunk of the Palm Jumeirah), Nakheel International Hotel and Tower, another project on the trunk of the Palm Jumeirah, and Ibn Battuta Mall.
Nakheel has announced plans for the Nakheel Tower, which will be the world's tallest skyscraper, if built, standing over two thirds of a mile high. The tower will take over a 10 years to complete and will be the center of a vast development complex, the Nakheel Harbour and Tower. In early 2009 the tower was suspended due to the effects of the worldwide credit crunch.
The company also owns the retired ocean liner, Queen Elizabeth 2, which they planned to convert into a luxury hotel, that was to have been moored at the Palm Jumeirah but will now be sent to the DP World project in Cape Town, South Africa instead..[1]
On November 25, 2009, the Dubai government announced that Dubai World intended to "ask all providers of financing to Dubai World and Nakheel to 'standstill' and extend maturities until at least 30 May 2010".
On December 14, 2009, the Dubai government received $10 billion in surprise aid from Abu Dhabi for debt-laden Dubai World, which said it would use $4.1 billion of it to repay its Nakheel unit's Islamic bond maturing on the same day.[2]
Image gallery
Micellaneous
 The Egypt court at the Ibn Battuta Mall, on opening day. |
 Debenhams store, located in the Ibn Battuta Mall's Persian Court. |
 The Palm, Jumeirah. |
Discovery Gardens from the air on 1 May 2007
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External links
References
- ^ http://www.cunard.com/AboutCunard/NewsReleases.asp?.Cat=&View=ViewArticle&Mode=News&ContentID=6656& Cunard Line Announcement | QE2 Retirement | Retrieved 13-05-2009
- ^ TRANSCRIPT-Abu Dhabi gives Dubai $10 bln bailout AFX News
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