Nakheel offers land sale on Waterfront Company to selected investors

Nakheel, the premier property developer in the Middle East has announced that it will offer local and international investors development land for sale on the Waterfront project, the world's largest waterfront offering.

The Waterfront project, encompassing over 250 best of breed master planned communities, is being developed as a new gateway to the Emirate of Dubai.

Sultan Ahmad Bin Sulayem, Executive Chairman of Nakheel and Waterfront Company (DWC) said «With such a path-breaking and visionary project, this offers great potential for investors to create innovative developments on the world's largest Waterfront offering. Waterfront will form a self-contained city within a city and gateway to Dubai.»

The land sale will be offered to a selected list of high-profile property developers and investors from the local, regional and international investment community.

Waterfront has generated significant interest among investors and property developers across the world in view of the lucrative investment opportunities and future growth prospects the project offers.

Bin Sulayem expressed his gratitude to the investors who supported Waterfront Company through an initial commitment to invest in the company's capital in addition to buying lands: «This commitment reflects their trust in Nakheel's ability to execute a project of such great breadth and magnitude.»

Bin Sulayem added that, «DWC will initially offer plots of land of the first phase for sale. Investors who buy land in this project will be given the priority to subscribe in the equity of DWC in the future.

Dubai Islamic Bank will be responsible for marketing Waterfront to business groups and institutions in the UAE and across the world.

Bin Sulayem said, «Waterfront, which was launched by H.H. General Sheikh Mohammed bin Rashid Al Maktoum Crown Prince of Dubai and UAE Defence Minister is the biggest project of its kind in the world.»

«The Waterfront master plan is being developed with the objective of having investors from different fields so that we can make use of their collective expertise to achieve our goal of creating a landmark project and a new commercial hub for Dubai.»

Bin Sulayem also added, «The first phase of the project will focus on developing Madinat Al Arab, a thriving urban downtown metropolis. It is projected that Waterfront's population would reach approximately 400,000.»

The Waterfront forms the first phase of a bigger project called the Arabian Canal. Waterfront has been carefully crafted and developed by an international consortium of the world's best architects, planners and urban developers. The project will see the creation of state-of-the-art infrastructure including a sophisticated network of roads, canals and waterways.