Sunday, 20 September 2009

Emaar & Nakheel do a u-turn on Cityscape.

Another one for the "Dubai, Capital of The U-turn" file.  After announcing at the end of last week that they wouldn't be taking part in the Cityscape exhibitions, Nakheel and Emaar have had a joint change of minds and have now announced that they will.  Limitless have announced that they will not take part this year, probably because there's nobody left.
State-owned master developer Nakheel on Saturday said it would participate in Cityscape Dubai after all, a decision taken following tals with the event organisers.
The company, the developer of iconic projects, like the Palm Jumeirah and The World, said in a statement sent to Arabian Business that the decision was made "following discussions with various industry stakeholders, including partners and the leading event’s organisers".
Its announcement was followed by a similar change of mind from Emaar Properties which said its decision "follows discussions with the various agencies involved in organising the event", it was reported by Zawya Dow Jones newswire.
Both Nakheel and Emaar had said on Thursday that they would not be taking part in Dubai's premier property show.
But Nakheel's statement on Saturday added that it would focus on "exhibiting communal properties on several of its developments that are close to completion".
Nakheel said it had recently completed the handover of 33 islands on The World and is scheduled to complete property handovers on a number of other developments in its portfolio.
The company is also gearing up for the inaugural Dubai World Championship golf tournament at Jumeirah Golf Estates in November.
A Nakheel spokesperson added the company was expecting "a very active last quarter 2009" and was focusing on delivering units and services to existing investors and residents, without giving further details.

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