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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]
The Palm Islands consist of three artificial archipelagos: Palm Jumeirah, Deira Islands, and Palm Jebel Ali, [1] on the coast of Dubai, United Arab Emirates. The Palm Islands were constructed around the same time as The World Islands. Nakheel Properties is the Palm Islands real estate developer. [2] The creation of the islands began in 2001 and ...
This would produce a shelter around the Palm Jebel Ali, one of the two Palm Islands, the largest artificial islands (shaped like palm trees) in the world also being constructed by Nakheel. [3] It was later redesigned without the Islamic design, and due to the 2007–2008 financial crisis , the project was stalled, and with 40% of the islands ...
The Palm Jumeirah is an archipelago of artificial islands on the Persian Gulf in Jumeirah, Dubai, United Arab Emirates. It is part of a larger series of developments called the Palm Islands , including Palm Jebel Ali and the Dubai Islands , which, when completed, will together increase Dubai's shoreline by a total of 520 kilometres (320 mi). [ 3 ]
Nakheel Properties. Nakheel Properties (Arabic: نَـخٍـيْـل, romanized: nakhīl, lit. ' palm tree ') is a real estate development company based in Dubai, United Arab Emirates. [3] 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]
Then in early April 2008, Nakheel announced that more than a quarter of the total area of the Palm Deira had been reclaimed. In the wake of the financial crisis of 2007–2008 , Nakheel had put projects like the Palm Jebel Ali , The World and Palm Deira on hold since 2008.
In 2009, the Dubai Land Department investigated complaints into Nakheel stalling the Palm Jebel Ali project. [36] Nakheel offered investors alternative homes in other projects but these were inferior properties. In March 2011 Nakheel offered refunds to property investors. Palm Jebel Ali's developer planned to house more than 250,000 people on ...
Palm Jumeirah: Nakheel Properties: Complete: $12.3 billion: It is the world's largest man-made island. 2 Palm Jebel Ali: Nakheel Properties: Temporarily on hold: It will accommodate over 250,000 people by 2020. [27] [28] Construction will be resumed in the coming months. [when?] [7] 3 Deira Islands: Nakheel Properties: scaled down, 2020