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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“There’s a lot of energy, it’s a great forum. What’s interesting is there is the expansion in terms of coworking, student housing and retirement living, there’s a lot of movement and a lot of these brands on the fringes are now coming into the fold.”

Bill Barnett, CEO, C9 Hotelworks

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