Developer targets European investors through Engel & Völkers partnership.
Dubai, 30 September 2015 … Dubai-based real estate master developer Nakheel is leveraging its joint venture partnership with German real estate brokerage firm Engel & Völkers to target new European investors, starting at the 2015 Expo Real property exhibition in Munich next week.
Nakheel Chairman Ali Rashid Lootah and a team of senior managers will capitalise on the company’s relationship with Engel & Völkers by showcasing Nakheel’s Dubai developments and meeting potential new investors at Expo Real and other locations.
Nakheel signed its joint venture with the Hamburg-based premium real estate brokerage in January this year, creating a new Dubai-based company specialising in selling and leasing land and properties across the emirate. Located at Nakheel’s head office, the company is now firmly established and operating under the Engel & Völkers brand.
Among Nakheel’s large-scale, master developments being showcased in Germany is Deira Islands, a new, 15.3 square kilometer coastal creation that is set to transform the Deira area of Dubai into a vibrant tourism, retail and leisure hub, and add 40 km, including 21 km of beach, to Dubai’s coastline.
The project, master planned and developed by Nakheel in line with the Government of Dubai’s vision for 2021, includes waterfront hotels, serviced residences, marinas and retail attractions, including Nakheel’s Deira Mall and Deira Islands Night Souk. Nakheel is also planning to build five hotels at Deira Islands, and already has joint ventures with Spain’s RIU Hotels & Resorts and Thailand’s Minor Hotel Group for two of them.
Nakheel Chairman Ali Rashid Lootah said: “Our joint venture with Engel & Völkers brings together our unrivalled Dubai real estate expertise and their long-standing international brokerage experience and network. Through this exciting partnership we can tap into new markets and give investors the opportunity to become part of Dubai’s future. Expo Real is the perfect platform for this.”
Engel & Völkers has more than 600 offices based in 36 countries spanning four continents. Among them is its new, 850 sqm Dubai Market Centre, based at Nakheel’s Palm Jumeirah offices, opened earlier this year. Nearly 150 people have already been recruited to work at the new company so far, with a target of 250 agents by the end of 2015.
David Scheffler, COO of EV MMC Management GmbH said: “Engel & Völkers has been able to establish itself successfully in the real estate market in Dubai. I am convinced that we will soon achieve our common goals thanks to the outstanding and close collaboration with Nakheel. We look forward to meeting more investors at Expo Real next week and introducing them to the Dubai real estate market.”