NaKheel News

[yazanm]

Dubai, April 3rd 2008



Nakheel, one of the world’s largest and most innovative real estate developers, has sold out all residential units of the Emirates Precinct, the tenth and final precinct to be added to the Residential District of International City.

This new development features 1612 residential units and 52 retail spaces across a total of 26 buildings. The residential buildings offer a range of spacious studio and one-bedroom apartments in International City's growing residential community, which is now home to more than 50,000 people. Construction on the Emirates Precinct began earlier this year, with the completion scheduled for the third quarter of 2009.

Manal Shaheen, Nakheel Director - Sales, Marketing and Customer Service, said:

“International City continues to be an enormous draw for people in search of quality housing at an affordable price, which has been demonstrated further by the enormous sales success of the Emirates precinct. We see this success as reflective of the quality of the development being delivered and it shows that there is great demand in the market place for affordable housing. With its location and affordability, International City is an ideal place to live.”

Eng. Rashid Al Helli, Director, International City, Nakheel said:

“International City is now fast establishing itself as a vibrant community, providing much-needed affordable living with excellent facilities for a broad range of people in Dubai. We are delighted with the progress to date and more than 50,000 people have now moved into their new homes; facilities are also continuing to be made available, landscaping is well underway, and community events are regularly being held, including a hugely successful basketball tournament held this weekend.”

International City, which began construction in 2003, comprises of the Residential District that includes 413 buildings and the Central District that includes 34 plots that are currently under construction by private developers. Neighboring developments include the Dragon Mart mall and Al Warsan Lake.

International City now has ten internationally themed communities that make up the Residential District: Emirates, China, England, France, Greece, Italy, Morocco, Persia and Russia. The project was designed as an integrated multi-purpose development to meet the increasing demand for affordable housing in Dubai and will be home to more than 70,000 people by the end of 2008, with a number of further launches throughout the year.