Manal Shaheen

'Our focus is on the delivery of The Palm, Jumeriah,' she told AME Info from the eagle's nest above the Nakheel stand at the Arabian Travel Market last week. 'We know that the whole world is watching what happens to this project.

'The first phase of villa and apartment owners will move in before the end of the year, and we have just launched the new design of the Trump Tower which will offer condo-apartments. It is a concept design at the moment but we expect to have lay-outs available in September and October.'

This autumn is going to be a busy time for Nakheel on The Palm, Jumeriah with the delivery of 2,200 shoreline apartments and the villas. But for Nakheel it will not just be a matter of handling the first arrivals, there will be a series of new sales to launch.

'We have built villas on 11 of the fronds (palm leaves) so far, and still have five fronds to sell,' says Ms. Shaheen. 'Then we have the Marina Apartments, Village Centre Apartments and a few other buildings which we intend to release in phases in the fourth quarter.'

But ownership patterns have settled down on The Palm, Jumeirah after the initial hectic round of re-sales, and around 80% of villas are now in the hands of owner-occupiers, according to Ms. Shaheen.

'Hotel construction is now getting underway. We are giving the hotel plot owners every support to enable them to begin construction. And of the 32 hotels planned for The Palm, Jumeriah, nine are now under construction, including the biggest The Atlantis, and most should be completed in 2008 or 2009.'

Meanwhile, Nakheel will also be working hard on sales at the second palm, The Palm, Jebel Ali. Ms. Shaheen says Nakheel has sold 500 of its Water Homes on The Palm, Jebel Ali, but has around 1,000 more to sell as well as the land on The Crescent.

'Since the Dubai Property Law was introduced we have seen more confidence in the market, but there has never really been a lack of confidence since the directive from His Highness in 2001' she says. 'Over 70 different nationalities have bought properties in Dubai and we continue to participate in property shows all around the world.

'We have also launched a new website which is uploaded with the latest sales information to keep agents fully informed. The Internet is a great tool for management as well as a resource for home buyers.'

This certainly promises to be a busy autumn for Nakheel with the eyes of the global media turned to the delivery of The Palm, Jumeriah, but for such an ambitious project the auguries look good.