{"id":39145,"date":"2016-12-28T23:54:25","date_gmt":"2016-12-28T16:54:25","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=39145"},"modified":"2016-12-28T20:59:47","modified_gmt":"2016-12-28T13:59:47","slug":"nakheel-plans-huge-increase-in-contracts-awarded-for-next-year","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nakheel-plans-huge-increase-in-contracts-awarded-for-next-year\/","title":{"rendered":"Nakheel plans 'huge' increase in contracts awarded for next year"},"content":{"rendered":"


\nDubai-based developer Nakheel has confirmed that it is planning to award contracts worth at least Dh10 billion next year, a 66 per cent increase from this year’s figure.A spokesman for the developer confirmed that main contracts that are anticipated to be awarded within the next 12 months include one to build the Dh3.67bn, 600,000 square metre mall likely to be a key feature of the Deira Islands project; the Dh7.5bn Jebel Ali Gardens site with up to 10,000 apartments in 42 buildings; and a contract for Palm 360 – a 220 metre-high hotel and residential tower complex unveiled in September at this year’s Cityscape Global exhibition.Next year’s programme is also likely to include an award for the Palm Gateway complex of three residential towers that will sit atop the Palm Monorail station at the entrance to Palm Jumeirah. A Dh1.4bn contract for this project was initially granted in February this year to a joint venture between South Korea’s Ssangyong Engineering & Construction and China State Construction Engineering Corporation but this was subsequently rescinded and the project re-tendered. A new deal is expected to be agreed next year.The award of Dh10bn worth of contracts would be an increase of about 66 per cent on the \u00adDh6bn of awards made this year, which included Dh2.3bn worth of awards for retail projects such as the Deira Islands Night Souk, Warsan Souk, the new Circle Mall in Jumeirah Village Circle and an extension of Dragon City.Speaking to Middle East Economic Digest (Meed), Nakheel’s chairman, Ali Rashid Lootah, said that it is likely to finance new projects through increased debt issuance. “We will be borrowing for sure. We have a huge number of projects and we need financing. Banks are more\u00a0than willing to deal with us,” he said. In August this year, Nakheel announced that it repaid a Dh4.4bn sukuk that Mr Lootah said had effectively drawn a line under a five-year financial restructuring that began in 2011. The deal allows it to tap debt markets once more to finance its ambitious construction programme. Mr Lootah had said it was “in serious discussions with different lenders” following the repayment.In October, the company said that net profit for the first nine months of this year rose by 39 per cent year-on-year to Dh3.61bn.mfahy@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Nakheel plans ‘huge’ increase in contracts awarded for next year<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Dubai-based developer Nakheel has confirmed that it is planning to award contracts worth at least...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-39145","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-abn","jetpack-related-posts":[{"id":54665,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nakheel-awards-dh1-5bn-contract-for-the-palm-gateway-development\/","url_meta":{"origin":39145,"position":0},"title":"Nakheel awards Dh1.5bn contract for The Palm Gateway development","date":"May 14, 2017","format":false,"excerpt":"\r Nakheel said on Saturday it selected Indian engineering firm Shapoorji Pallonji Group to execute a Dh1.5 billion construction contract for a residential retail complex on Palm Jumeirah. The deal is part of Dh12bn worth of contracts expected from the developer this year.Shapoorji Pallonji Mideast, a part of the Mumbai-based\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":155841,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nakheel-awards-204m-for-palm-jebel-ali-infrastructure-works\/","url_meta":{"origin":39145,"position":1},"title":"Nakheel awards $204m for Palm Jebel Ali infrastructure works","date":"June 16, 2025","format":false,"excerpt":"\r Nakheel has awarded $204m in contracts for Palm Jebel Ali infrastructure in Dubai\r \r Source : arabianbusiness.com\r Read more...Nakheel awards 4m for Palm Jebel Ali infrastructure works","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/06\/Nakheel-Dubai-Palm-Jebel-Ali-1000x658-1.jpg?fit=1000%2C658&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":23589,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-developer-nakheel-brings-an-end-to-debt-restructuring-saga-with-dh4-4bn-payment\/","url_meta":{"origin":39145,"position":2},"title":"Dubai developer Nakheel brings an end to debt restructuring saga with Dh4.4bn payment","date":"August 22, 2016","format":false,"excerpt":"\r Nakheel, the developer of Dubai's palm-shaped islands, has repaid an Islamic bond, bringing an end to its debt restructuring saga.The Dubai government-owned company transferred funds to agent Deutsche Bank to cover the Dh4.4 billion sukuk maturing later this month, chairman Ali Rashid Lootah told reporters in Dubai. The securities,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42623,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-developer-behind-dubais-palm-islands-enjoys-record-profits\/","url_meta":{"origin":39145,"position":3},"title":"The developer behind Dubai\u2019s palm islands enjoys record profits","date":"February 2, 2017","format":false,"excerpt":"\r A clean slate for\u00a0the formerly debt-ridden property giant Aerial view of Palm Island in Dubai, UAE. Basar\/Shutterstock Nakheel, the real estate behemoth responsible for the palm-shaped islands dotting the Persian Gulf, announced yesterday its record takings in 2016. Net profits for Nakheel reached AED4.96 billion (USD1.35 billion) last year,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":44734,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nakheel-chief-hopes-to-attract-partners-for-two-more-deira-islands-resorts-this-year\/","url_meta":{"origin":39145,"position":4},"title":"Nakheel chief hopes to attract partners for two more Deira Islands resorts this year","date":"February 20, 2017","format":false,"excerpt":"\r Nakheel is in talks with two more potential joint venture partners for resort hotels at its Deira Islands project, which will conclude \"hopefully this year\", the chairman of the Dubai developer said on Sunday. Nakheel has retained the larger plots along a 6-kilometre stretch of beach linking the first\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":145322,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/palm-jebel-ali-dubai-real-estate-giant-nakheel-awards-infrastructure-contracts\/","url_meta":{"origin":39145,"position":5},"title":"Palm Jebel Ali: Dubai real estate giant Nakheel awards infrastructure contracts","date":"May 26, 2024","format":false,"excerpt":"\r Palm Jebel Ali, revealed by Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, offers luxury amenities for residents and visitors\r \r Source : arabianbusiness.com\r Read more...Palm Jebel Ali: Dubai real estate giant Nakheel awards infrastructure contracts","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2024\/05\/Palm-Jebel-Ali-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/39145"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=39145"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/39145\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=39145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=39145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=39145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}