NAKHEEL'S MARINA RESIDENCES SET FOR HANDOVER FROM APRIL

NAKHEEL'S MARINA RESIDENCES SET FOR HANDOVER FROM APRIL

- Marina Residences 90 per cent complete

Dubai, 10 February 2009: Nakheel, Dubai's master-developer, has announced that the exclusive Marina Residences development on Palm Jumeirah is now 90 per cent complete. The handover of more than 900 homes on the development is set to commence in just a few weeks, from April 2009.

Work at the development has progressed rapidly. Groundwork only commenced on Marina Residences’ six towers, located at the tip of Palm Jumeirah’s trunk, in September 2006.

Johann Schumacher, Managing Director, Palm Jumeirah, said:
"Nakheel is handing over thousands of villas in the next 24 months and Marina Residences is no exception. Over the course of this year we’ll be handing over the keys for 900 homes, and we’re looking forward to welcoming the newest Palm Jumeirah residents from April.

“Homeowners at Marina Residences will benefit from an exclusive address at an iconic development, Palm Jumeirah. Here they can enjoy the wealth of tourism and leisure facilities which are on offer, and also benefit from having one of Dubai's largest marinas – Anchor Marina – on their doorstep."

Marina Residences is a stunning residential complex located at the tip of the trunk on Palm Jumeirah, one of the world’s largest man-made islands. The high-end, high-rise development consists of six residential towers that rest on landscaped podiums faced with marinas. The six towers hold 940 apartments and penthouses; a further 40 units rest on a marina fronted promenade in the form of townhouses. At the doorstep of each Marina Residence tower is Anchor Marina, one of Dubai’s largest marinas, with berths for more than 500 vessels.

Over the next 24 months, Nakheel will deliver thousands of homes at its communities. Handover of homes has already begun at Jumeirah Village, with 2,200 villas and townhouses expected to be handed over by the end of the year. Twenty-four ultra-luxury villas at Jumeirah Island Mansions are set for handover this spring, adding to this already vibrant community that has become one of the most sought-after residential locations in Dubai. Jumeirah Park is also on track, with homeowners set to take up occupancy later this year. Ninety per cent of infrastructure works are complete across the development, with villa construction 30 per cent finalised. At family-focused Al Furjan, 14 show villas are open for viewing, with handover of the first properties on schedule for late 2010.