Nakheel Projects

Nakheel, a cornerstone of Dubai’s real estate empire. Born under the aegis of Dubai World in 2000, Nakheel quickly rose to prominence, becoming a beacon of innovation and luxury. However, the journey wasn’t without its trials. The company faced significant legal challenges in 2009 due to a record sukuk issuance, and the global financial crisis necessitated a leadership overhaul and a massive debt restructuring of AED 59 billion ($16 billion) in 2011, ultimately placing it under the stewardship of the Government of Dubai.

In 2012, and Nakheel found itself under the microscope for corporate governance, leading to a pivotal injection of US$898 million by Sheikh Mohammed bin Rashid Al Maktoum in 2013, earmarked for the Palm Jumeirah projects. This move proved fruitful as, by 2017, Nakheel was reporting a profit of $1 billion, delivering 1,200 units and embarking on the ambitious $410 million Palm Gateway project. In 2020 with Mohammed Ibrahim Al Shaibani taking the helm as chairman, ushering in a new era with a rebrand in September 2022 and the revival of projects like Deira Islands. Today, Nakheel stands tall, having recently relaunched the Palm Jebel Ali project, with plans for 1,700 villas and 6,000 apartments, and a commitment to honoring buybacks for investors.

Nakheel’s portfolio is a testament to Dubai’s visionary ethos, with its waterfront projects like the iconic Palm Jumeirah adding over 300 kilometers to Dubai’s coastline. This expansion has paved the way for a plethora of seafront homes, resorts, hotels, and attractions, cementing Nakheel’s role as a pivotal force in realizing Dubai’s grand vision. With each project, Nakheel isn’t just constructing buildings; they’re sculpting a legacy that will stand the test of time.