NAKHEEL COMMENCES HANDOVER OF MARINA RESIDENCES

NAKHEEL COMMENCES HANDOVER OF MARINA RESIDENCES

- PHASED HANDOVER OF 980 HOMES BEGINS
- 2000 RESIDENTS SET TO MOVE ON TO PALM JUMEIRAH

Nakheel, Dubai’s master developer, announced it has commenced handover of homes at Marina Residences, Palm Jumeirah. The phased handover of 980 units at Marina Residences, located at the tip of the island’s trunk, will continue until early next year.
The handover marks another great milestone in the development of Palm Jumeirah with more than 2000 new residents to be welcomed to the community during this process.
Marwan Al Qamzi, Group Managing Director, Nakheel Development Projects said:
“Palm Jumeirah remains one of the most sought after locations in Dubai and residents at Marina Residences are set to enjoy the best of what Palm Jumeirah has to offer with gorgeous homes, stunning views, and world-class hotels and entertainment on their doorstep.”
“At Nakheel our focus is on delivering quality communities and the handover of Marina Residences marks another major milestone on Palm Jumeirah. Going in to the new year we are pleased to welcome more and more families into this growing community.”
The waterfront development features six residential towers containing 980 units, 940 of which are a mix of apartments and penthouses. The most luxurious penthouses are designed over four floors, providing more than 14,000 sq ft of living space. The development is complemented by 40 townhouses which are located along the marina fronted promenade.
Palm Jumeirah is now home to more than 12,000 residents, however the project is still ongoing and the next 5 to 6 years will see the island become one of the world’s premier resorts, offering a number of top-brand named hotels, including Atlantis which opened in September 2008, as well as a wealth of retail and leisure choices, offering the ultimate luxury retail, dining and entertainment destination.

About Nakheel
Nakheel is one of Dubai’s largest developers and a key player in realising the vision of Dubai for the 21st century: creating a world class destination for living, business and tourism. Nakheel is developing an iconic portfolio of innovative landmark projects in Dubai, and now in key markets around the globe, across a range of sectors - residential, commercial and leisure.
Nakheel's Dubai portfolio currently includes Palm Jumeirah, Palm Jebel Ali, Palm Deira, The World, Waterfront, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Al Furjan and International City.
Nakheel is a key entity within Dubai World. Dubai World is one of the world's largest holding companies and supervises a portfolio of businesses and projects for the Dubai government across five continents and more than 100 countries.

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.