Nakhell signs AED 17 billion contract for a new project.
Dubai Vista Estate brings you the news of the week: Nakhell signs AED 17 billion contract for a new project.
As the Dubai property market expands, developer Nakhell has committed to developing waterfront properties by entering into a financing agreement worth AED 17 billion.
This fund will be used to develop several projects such as Dubai Islands. This part has 5 islands, and will extend over 17 km in the future it will be able to accommodate 80 leisure centres such as hotels, wellness centres while remaining luxurious…
Mashreq Bank, Dubai Islamic Bank and Emirates NBD are part of the deal, which includes a refinancing of AED 11 billion and additional funds of AED 6 billion.
In the long term, we will have luxury residences, hotels, a marina and 20 km of beach. Once this project is completed, 20 km of beachfront will be added as well as an ecological beach with a Blue Flag label.
Currently still under construction, the main activities will be Deira Central and Deira Mall.