Thursday, August 21, 2008

Nakheel to seek US investments

Original Article

Dubai: Senior executives of Nakheel are scheduled to go to the United States tomorrow to meet with a number of top US developers and investors seeking investment opportunities in Dubai.

Leading the Nakheel team on this visit to Los Angeles will be CEO Chris O'Donnell and director of sales, marketing and customer service Manal Shaheen. They will be accompanied by a team of company professionals.

The delegation will continue to pursue the company's strategy of highlighting the Dubai World-owned real estate company's expertise and projects to the US market which have already caught the world's attention with their unique architectural design and innovative concepts.

The delegation will also introduce various new investment opportunities in Dubai, including the recently launched Trump International Hotel & Tower on Palm Jumeirah, the company said in a statement.

"This visit is significant in many ways. Firstly, it highlights Dubai's incredible growth to American investors and encourages them to recognise and understand the significance of the emirate's current economic vibrancy. This is particularly so within the real estate market, where Dubai has experienced the most impressive growth in the region during the first decade of this century," said Shaheen.

"Secondly, this visit presents us with an excellent opportunity to promote Nakheel projects, allowing investors to examine our ventures up close and become familiar with both our company and our projects."

Major presence

Nakheel already has a major presence in North America and has signed several important agreements with some of the continent's leading brands and corporations.

Nakheel has partnered with The Trump Organisation to develop the New York businessman's first project in the Middle East - Trump International Hotel and Tower.

It is also developing the first Worlds of Discovery theme parks outside the US, with SeaWorld, Aquatica, Busch Gardens and Discovery Cove set to become major attractions on Palm Jebel Ali by 2012.

In addition, Nakheel recently invested 20 per cent in Cirque du Soleil, the world's leading live entertainment company, in association with Dubai World sister company Istithmar World.

Nakheel's hotel division, Nakheel Hotels, is also following a dual strategy of investing in key gateway cities around the world alongside up-and-coming destinations which offer huge growth potential.

Major investments have already been made in North America, including a $375 million investment in the world-renowned Font-ainebleau Miami Beach resort which has enhanced an existing portfolio of hotels in key North American locations, including New York, Washington DC, Los Angeles and Los Cabos.

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