Global

Dubai developer seeks European investors

MIPIM 2016: Dubai’s biggest developer is targeting European investors with investment opportunities worth more than €1bn (£0.8bn) at MIPIM.

Chairman of Nakheel, Ali Rashid Lootah, said that investors in Dubai can expect returns of up to 10% as the market continues to correct.

He added that the developer is currently focussed on retail and hospitality projects in the region off the back of a 10% increase in tourist numbers to 14.2m in 2015.

Nakheel currently has 3,600 European investors. They have spent €1.7bn on 4,700 units since 2001.

Since MIPIM 2015, European investors, 70% of which are British, have spent €80m with Nakheel on property in Dubai.

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