Nakheel named 'Best Developer' at inaugural Arabian Property Awards 2008

Nakheel saw off tough competition from leading residential, commercial, and industrial real estate developers across the GCC to win the prestigious award.

The Arabian Property awards have been created as a recognition and celebration of the success and growth of the property sector in the UAE. With 23 categories the recipients of the awards were selected by a panel of Senior Editors and Directors at ITP Publishing Group. Arabian Property is a widely circulated, and highly regarded, trade publication focusing on the boom market of property development in this region.

Chris O'Donnell, CEO of Nakheel, said

"This award is in recognition of what has been an outstanding year so far for Nakheel and my special thanks goes out to the world-class team we have that, together, have achieved things previously thought impossible. Only this week we launched international sales of the Trump International Hotel & Tower in New York and we are set to break property records to sell the most expensive penthouse in Dubai.

"Sales at key developments including Waterfront have been a sell out. In addition to this in January we launched our environmental initiative Blue Communities which has just signed up its first partner, the Gold Coast City Council. We expect the remainder of 2008 to be just as fruitful as we continue our tireless work to make our visions a reality."

Nakheel is contributing to Dubai's transformation in a number of extraordinary ways.

The company is creating an extra 1,000 kilometres of coastline through some of the world's most iconic developments such as The Palm Trilogy and The World.

Nakheel will be the provider of 50% of Dubai's residential supply by building homes for three million people and also plans to create 10 million sq ft of retail space.

Having already played a leading role in establishing Dubai as a leading tourism destination, Nakheel's planned projects will include up to 250 new hotels - a 50% increase on the current number.

The Palm Jumeirah alone is more than doubling the number of beachfront hotels in Dubai, with more than 30 hotels and 14,000 rooms.