Nakheel to launch serviced apartment projects at Cityscape

Dubai developer Nakheel Properties is set to launch AED3.2 billion ($871 million) of new properties at the Cityscape Global exhibition next week.

The developer will launch six new residential, retail and hospitality projects at four of its existing communities in Dubai, including projects on the Palm Jumeirah.

The announcement is part of the company's plans to develop AED 3 billion of hospitality projects, which include 16 new hotels and serviced apartment complexes with 5,300 rooms, which it announced earlier this year. Adding new hotel and serviced apartment assets is part of Nakheel's strategy of growing its recurring revenues.

Cityscape takes place at the Dubai International Convention and Exhibition Centre from September 11 to 13.

Want to know more about the UAE serviced apartment sector? Serviced Apartment Summit MEA takes place in Dubai on November 12 and 13.

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"It’s been really good. For a first event, the numbers are good, and we’ve had some very positive feedback from the owners that we’ve invited here. We’ve had some really good conversation with partners and potential owners. The atmosphere has been really good - I think the tours of Bangkok yesterday which allowed people to get to know each other on an informal basis was a great idea. I’m sure the event will grow from here."

Douglas Martell, chairman & CEO, Onyx Hospitality Group

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