Nakheel Properties

Nakheel is an internationally renowned developer and one of the most well-known names in the city of Dubai. The Palm Jumeirah, Palma Jebel Ali, Palma Deira, and the artificial archipelago Mir are among of the developer's most significant developments. In addition to residential developments like as The Gardens, International City, Jumeirah Lake Towers (JLT), and Jumeirah Island, Nakheel is also a major developer of commercial properties. The company's portfolio also includes Dragon Mart and Ibn Battuta Mall, which are both located in Jakarta.

Because of this affiliation with government, the developer's executive director is Sheikh Ahmed bin Said Al Maktoum, a member of the United Arab Emirates' royal family. Nakheel's objective, according to the company, is to develop world-class homes that are comfortable for a variety of uses - for personal enjoyment, for business, and for attracting tourists.

Nakheel aspires to mix cutting-edge technology with sound urban planning principles in all of its activities and projects. The developer proclaims that the interests, comfort, and safety of people come first in his development. Nakheel Asset Management and Infrastructure (NAMI) is an asset management organization that is responsible for the upkeep of everything from tunnels to swimming pools in Nakheel-owned developments.

History

Founded in 2003, the firm has been around ever since.

The corporation obtained a financial bailout in 2009.

Later that year, the firm requested a halt to its loan payments.

Lawsuits were filed against the corporation after it was involved in the issue of the Sukuk in 2009.

There is a lot of academic interest in this sukuk.

A sukuk of this size was reportedly the biggest ever.

Sultan Ahmed bin Sulayem was removed from his position as chairman in that year.

This was also the year when the business began making payments to its creditors.

The corporation restructured its debt by Dhm59 billion ($16 billion) in 2011.

According to Dubai World's executive board, Nakheel will be handed over to the government of Dubai once the company's financial reorganization is complete. In 2012, it and Tamweel Properties & Investments were the subjects of a research on corporate governance.

Owner
Government of Dubai

Total under construction projects (5)