Nakheel named 'Developer of the Year' at Arabian Business Achievement Awards 2008

Nakheel saw off tough competition from leading residential, commercial, and industrial developers across the region to win the prestigious award which was judged by a panel of senior business leaders and directors from publisher ITP.

The prestigious awards event, attended by the region's leading business management professionals was a celebration of the outstanding achievements made in 2008.

Chris O'Donnell, CEO of Nakheel, said:

"Nakheel is honoured to receive the acknowledgement from the Arabian Business Achievement Awards of 'Developer of the Year'. This award is a reflection of the world-class team that we have at Nakheel, who together have achieved things previously thought impossible. We have launched a number of developments this year that have pushed the boundaries of imagination, design and architecture. We continually strive to push these boundaries and fulfil the vision of creating a city that inspires those who live, work and visit here."

Walid Akawi, CEO of ITP Publishing Group said: "The award for 'Developer of the Year' is a highly contested one with a high number of quality contenders in this region. The achievements of Nakheel in the last 12 months have been outstanding with the launch of some of the most innovative developments ever seen in this region. Along with innovation Nakheel continues to develop projects that are high in quality and across a range of price brackets. It is for these reasons that we wanted to acknowledge Nakheel's achievements with the award for 'Developer of the Year'.

"The Arabian Business Achievement Awards sets a benchmark for businesses in this region and recognises the outstanding and influential work that is carried out on a daily basis."

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.