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19 April 2024

Dubai property show in Hong Kong

By Wam

Dubai-based real estate developer Nakheel is heading east to showcase new projects with construction values of over $4.6 billion at the Dubai Property Show in Hong Kong this week.

Nakheel, whose projects already span more than 15,000 hectares and provide homes for over 200,000 people, is the biggest developer at the show, which will highlight Dubai's unrivalled opportunities for real estate investment. Nakheel will exhibit a diverse range of new master developments, residential properties and retail and hospitality projects at the three-day event.

Investors from Hong Kong and other parts of the Far East and South-East Asia have already bought around 500 villas, apartments or land plots from Nakheel, spending a combined $245 million in the process. Chinese investors account for nearly 80 per cent of these purchases: 390 properties worth $212m. The biggest group of overseas investors with Nakheel is Indians (4,400 properties worth $2.5bn).

Thousands more Chinese people have invested in Dragon Mart, Nakheel's sprawling, recently-expanded retail and trading complex in Dubai. Dragon Mart is the world's biggest Chinese trading hub outside mainland China, with more than 4,000 shops, restaurants and entertainment outlets welcoming an average 80,000 visitors daily.

Nakheel Chairman, Ali Rashid Lootah, said: "The Dubai Property Show is the ideal platform from which to highlight how investors in Hong Kong can be part of the Dubai real estate success story, as end-users or with a view to renting out.

"Dubai's excellent transport, education, trade and leisure facilities act as a magnet for people to live and work in the emirate. These people need accommodation, meaning a huge demand for rental properties, which offer substantial investment returns. We look forward to further strengthening our relationship with investors in this part of the world through this exciting event."

Nakheel 's projects on show in Hong Kong include the 15.3 square km Deira Islands coastal city; luxury high-rise apartments in the 52-storey Palm Tower and high-end waterfront units at Azure Residences at Palm Jumeirah; and spacious three-bedroom townhouses at Warsan Village, a new, gated community located near Dragon Mart and Nakheel 's biggest master community, International City. Warsan Village and International City are already home to 300 investors from China and the Far East.