Gulf Construction Online - Nakheel records ‘robust’ villa sales

Real Estate

Nakheel’s ready-to-occupy family villas at Nad Al Sheba ... in demand.

Nakheel records ‘robust’ villa sales

01 July 2020

Master developer Nakheel is seeing an uptick in demand for villas, with sales worth Dh223 million ($59.3 million) in the last three months, as buyers look for more living space to adapt to the ‘new normal’.

Particularly in demand are ready-to-occupy, family villas at Nad Al Sheba off Sheikh Mohammed Bin Zayed Road, one of Dubai’s most sought-after residential locations for UAE nationals, where Nakheel has sold 70 villas with a sales value of Dh170 million since March, says Nakheel.

Ready villas at Al Furjan are also proving popular, with Dh53 million worth of sales across 20 villas in the same period, it states.

Nearly 70 per cent of villas released at Nad Al Sheba, and 95 per cent of the 400-plus villas at the most recently completed phase at Al Furjan, are now taken, it adds.

COO Aqil Kazim says: “The robust sales – achieved despite the challenging circumstances resulting from the Covid-19 pandemic – highlight investor trust in Dubai’s real estate and the Nakheel brand. With a growing number of end-users among our customers, it’s clear that buyers are committing long term to the real estate sector with a home to call their own.”

“Remote working, home schooling and earlier restrictions on movement have resulted in people spending most of their time at home – with many rethinking their living arrangements and realising that they could do with more space to work and play. This, combined with competitive deals and our new virtual sales tool, has led to strong demand for family villas with extra rooms and private gardens at some of our most prestigious communities,” he adds.

According to him, Nakheel has continued its property sales through the pandemic with a virtual sales tool with which buyers can meet the sales team, take a 360-degree virtual tour, book units and pay deposits – all from the comfort of their phone or laptop. In-person sales meetings and site tours, while observing all health and safety directives, are also now on offer, he adds.