Nakheel to seek US investments tomorrow

Nakheel is scheduled to pay a visit to the United States tomorrow to meet with a number of top US developers and investors seeking investment opportunities in Dubai.

Leading Nakheel on this visit to Los Angeles will be Nakheel’s CEO, Chris O’Donnell, and Nakheel’s Director of Sales, Marketing and Customer Service, Manal Shaheen, who will be accompanied by a team of company professionals. The delegation will continue to pursue the company’s strategy of highlighting Nakheel’s expertise and projects to the US market which have already caught the world’s attention with their unique architectural design and innovative concepts. The delegation will also introduce various new investment opportunities in Dubai, including the recently launched Trump International Hotel & Tower on Palm Jumeirah

Speaking of the upcoming trip, Manal Shaheen said:

“This visit is significant in many ways. Firstly, it highlights Dubai’s incredible growth to American investors and encourages them to recognise and understand the significance of the emirate’s current economic vibrancy. This is particularly so within the real estate market, where Dubai has experienced the most impressive growth in the region during the first decade of this century. Secondly, this visit presents us with an excellent opportunity to promote Nakheel projects, allowing investors to examine our ventures up close and become familiar with both our company and our projects.”

Ms Shaheen added: “During our visit we will focus on explaining the strengths of investing in Dubai and how, by implementing solid legislation, providing an attractive investment environment, and offering a superior architectural experience, Nakheel has successfully managed to attract large international investors.”

Nakheel already has a major presence in North America and has signed several important agreements with some of the continents leading brands and corporations. Nakheel has partnered with The Trump Organization to develop the New York businessman’s first project in the Middle East – Trump International Hotel and Tower. It is also developing the first Worlds of Discovery theme parks outside of the US, with SeaWorld, Aquatica, Busch Gardens and Discovery Cove set to provide major attractions on Palm Jebel Ali by 2012.

In addition, Nakheel recently invested 20 per cent in Cirque du Soleil, the world’s leading live entertainment company, together with Dubai World sister company Istithmar World.

Nakheel’s hotel division, Nakheel Hotels, is also following a dual strategy of investing in key gateway cities around the world alongside up-and-coming destinations which offer huge growth potential. Major investments have already been made in North America, including a $375 million investment in the world-renowned Fontainebleau Miami Beach resort which has enhanced an existing portfolio of hotels in key North American locations, including New York, Washington D.C., Los Angeles, and Los Cabos.

Trump International Hotel and Tower

Nakheel has signed a contract with an Al Habtoor / Murray & Roberts joint venture for the construction of the Trump International Hotel & Tower on Palm Jumeirah.

The contract valued at AED 2.9 billion has been awarded for the construction of the eagerly awaited 62-storey structure, which is set to become a focal point of the Palm Jumeirah. The 270 metre design, which has a total gross built-up area in excess of 250,000 square metres, will feature two towers that rise above the Palm Monorail and central park, merging as one towards the sky. The development comprises a unit mix of 378 hotel rooms and suites, 385 condominiums, 12 exclusive townhouses, and 45,000 square feet of retail and 60,000 square feet of office space.