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The formal name of the company is Nakheel PJSC (private joint stock company) and it was a subsidiary of Dubai World and a private state-owned enterprise. [4] [2] Nakheel was central to Dubai's debt crisis in 2009–2010. [5] The company has been reported to be the second-largest property developer in Dubai after Emaar Properties. [6]
Jumeirah Garden City will be built across an area north of Sheikh Zayed Road between Diyafa Street and Safa Park. [15] 4 Dubai International City: Nakheel Properties: Complete: US$95 billion: 8.2 km 2 (3.2 sq mi) Dubai International city is a country-themed architecture of residences, businesses, and tourist attractions. [21] 5 Dubai Exhibition ...
In September 2022, Nakheel announced a rebranding exercise. [15] Soon after, it revealed its plans to relaunch Palm Jebel Ali. [16] Recently, it was revealed that Nakheel is nearing completion of $4.6 billion of debt restructuring to relaunch its landmark projects. [17] Nakheel plans to build 1,700 villas and 6,000 apartments. [18]
Al Furjan is a property development in Jebel Ali, Dubai, United Arab Emirates. [2] Nakheel Properties heads the development and Azizi Developments owns the largest number of residential buildings. [3] [4] [5] It borders Jebel Ali Village and is near Ibn Battuta Mall, the Gardens, and Expo 2020. [6]
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The vision of the project was "to create a world-class destination for residents, visitors and businesses in the world's fastest growing city". [1] Run by the Dubai Waterfront Company, the project was open to foreign investment with its real estate developer, Nakheel Properties, owning a 51% stake. [2]
Nakheel Properties (Nakheel PJSC), a real estate development company based in Dubai, UAE; Nakheel Aviation (callsign: NAKHEEL), a UAE airline; see List of airline codes (N) Nakheel Hotels, a subsidiary of Istithmar World, a state-run investment firm based in Dubai, UAE; Bisha FC (formally known as Al-Nakheel), Bisha, Asir, Saudi Arabia; a ...
During the Great Recession, Dubai's real estate market declined after a six-year boom. On 25 November 2009, the Dubai government announced that the company "intends to ask all providers of financing to Dubai World to 'standstill' [11] and extend maturities until at least 30 May 2010". [12] The company has laid off 10,500 employees worldwide. [13]