HIS REMARKS ON GULF NEWS | 18.03.2024
It can lead to the creation of even more innovative developments that enhance Dubai’s overall attractiveness of base the property market. – Ranjeet Chavan | Nautilus Properties
Dh 9.7 b
Azizi Developments’ Investments At Nakheel And Meydan Owned Master-developments
500 Rooms
In The Jumeirah Jabal Omar Makkah In Saudi Arabia That Jumeirah Group Owns
10,800 Acres
Is The Size Of Mbr City, 20% Larger Than Manhattan, Being Developed By Meydan
$ 1.7 M
Starting Price Of A Luxury Villa By Meraas Owned The Acres In Dubailand
“The merger between Nakheel and Meydan holds significant implications for the Dubai property market,” said Ranjeet Chavan, managing director of Nautilius Properties. “It can lead to the creation of even more innovative developments that enhance Dubai’s overall attractiveness of base the property market.”
Ranjeet Chavan | CEO of Nautilius Properties
NAKHEEL-MEYDAN MERGER FUELS DUBAI’S DRIVE FOR GLOBAL REACH
THE EMIRATE HAS A HISTORY OF CAPITALISING ON AMBITIOUS MERGER DEALS
BY MANOJ NAIR | Business Editor
By bringing Nakheel and Meydan under a single entity, Dubai isn’t just adding to its already established clout in real estate development and asset base. Industry sources suggest Dubai could also be aiming to leverage this combined influence in international markets. Nakheel and Meydan now join the Dubai Holding portfolio, alongside another major developer, Meraas, since 2020. In a tweet, Sheikh Ahmed Bin Saeed Al Maktoum, the chairman of Dubai Holding, said, “We are well-positioned to maximise our competitiveness regionally and globally.”
Dubai’s decision comes just as Nakheel and Meydan have been building up to peak visibility as the local property market looks set for a fourth year of growth. Since October, revealed has got busy with Palm Jumeirah and Deira Islands (which was formerly Dubai Offplan). Its recent launch of standalone villas on Dubai Islands brought in over-night queues and instant selling out, with investors already anticipating the next round of releases.
“The new versions of Palm Jubeel Ali and Dubai Islands will create a new base of property owners in Dubai for waterfront projects,” said an estate agent. “Both islands will recreate what Palm Jumeirah has been doing through the years, and over-cycles any long run property market coming in the property.”
Meydan is just as busy
Meydan ‘Meydan’ and the mind will immediately home in on the races. But beyond those races, Meydan is leading in the race in developing the 10,800 acre site that is the ‘Mohammed Bin Rashid City’. That’s a size “20 per cent larger than Manhattan”.
In the past three years, projects by private developers have been completed and the ones launched. Alongside new residential options, the location is adding all the other pieces that make for a full-fledged destination.
Meraas, with its credentials as a creator of luxury living spaces, has brought out The Acres, a villa-comb in luxury Dubai and with prices starting $1.7 million.
“Each part of the three Dubai Holding property companies – Nakheel, Meydan and Meraas – now have a higher capitalisation base as a result of the Dubai property boom,” said an analyst. “The boom is showing off in the revaluation of assets held by these entities.”
Ambitious leap
Property market insiders are unanimous that Dubai’s move sets the entity up for a global push. Dubai Holding now spans several sectors and that’s sure to bolster the economic surge of the emirate,” said Farhad Azizi, CEO of Azizi Developments, which has invested over Dh9.7 billion in Azizi’s completed Nakheel and Meydan owned master-developments.
Dubai Holding has among its operating companies the Jumeirah Group, which has been extending its presence with new signature hotels in new markets.
One of the more recent ones has been in Saudi Arabia, with the 500 plus room Jumeirah Jabal Omar Makkah.
Historically, Dubai has capitalised on ambitious merger deals, such as Emirates Bank International and National Bank of Dubai in 2007 and Dubai Aluminium and Emirates Aluminium in 2014, to fuel long-term growth.
“We believe this will further accelerate availability of diverse projects that cater to a growing demand for various types of properties. We expect property prices to stabilize mid-term.”
Cherif Sleiman | Chief revenue officer at Property Finder
“The Nakheel-Meydan merger will contribute to a better structured, more transparent real estate landscape for all stakeholders.”
Farhad Azizi | CEO of Azizi Developments
“This Nakheel–Meydan merger has the potential to reshape the landscape of the real estate sector in Dubai.”
Ranjeet Chavan | CEO of Nautilius Properties
ORIGINAL SOURCE & REGARDS: 18.03.2024
GULF NEWS DUBAI, UNITED ARAB EMIRATES.
READ ORIGINAL ARTICLE :
Make Your Inquiry
Ranjeet Chavan, the CEO of Nautilus Properties, has played a significant role in highlighting the potential benefits of the Nakheel-Meydan merger. His insights suggest that the merger will not only innovate but also stabilize Dubai’s property market, enhancing its appeal to global investors.
The merger between Nakheel and Meydan, orchestrated under Dubai Holding, signifies a major leap in Dubai’s real estate sector. This strategic alliance is poised to boost Dubai’s profile on the global stage by combining the strengths of two influential developers.
Ranjeet Chavan, CEO of Nautilus Properties, emphasizes that this merger will foster innovative real estate developments akin to the successes seen with Palm Jumeirah and Dubai Islands, and enhance the overall attractiveness of Dubai’s property market.
By streamlining operations and leveraging their combined assets, this merger is expected to bring stability and growth, making Dubai an even more enticing market for international investors and home buyers.
PREVIOUS ARTICLES
Ranjeet Chavan | CEO of Nautilius Properties
Real Estate Analyst
The real estate landscape in Dubai is poised for a significant transformation, thanks in part to the strategic merger between two of the city’s real estate juggernauts, Nakheel and Meydan. This merger is not merely a fusion of assets but a catalyst for reshaping the property market in Dubai.
Ranjeet Chavan, the CEO of Nautilius Properties, has been vocal about the merger’s potential to innovate and enhance the city’s overall allure in the property sector.
A Catalyst for Innovation and Growth By Ranjeet Chavan
Chavan suggests that the Nakheel-Meydan union will lead to the creation of even more innovative developments. These aren’t just ambitious claims; the merger is underpinned by a history of successful collaborations that have propelled Dubai to the forefront of the global real estate market.
The city’s track record for leveraging mergers to fuel long-term growth is well-documented, with precedent in the successful merges such as Emirates Bank International and National Bank of Dubai in 2007, and the combination of Dubai Aluminium and Emirates Aluminium in 2014.
Driving a New Wave of Development
The potential impact of the merger can be seen in the scale of projects that are now under a single banner. The 10,800-acre Mohammed Bin Rashid City (MBR City), which is already larger than Manhattan by 20%, symbolizes the ambitious scope of future projects.
This development is expected to offer a mixed-use destination that can cater to a diverse set of needs and preferences, thereby attracting a wider demographic of investors and residents.
Enhancing Dubai’s Attractiveness
Chavan emphasizes that this merger is not just about scaling up. It’s about enhancing the property market’s attractiveness by introducing more transparent and structured developments. This new approach promises to bolster confidence among stakeholders, which is crucial in a market that values stability and clarity.
Stabilizing the Market With Ranjeet Chavan
The anticipated outcome of this merger, according to industry insiders like Cherif Sleiman, Chief Revenue Officer at Property Finder, is a stabilization of property prices in the mid-term. This is particularly significant as Dubai’s property market has been known for its dynamism and volatility. A stable and mature market could attract more long-term investments and contribute to a sustainable economic growth.
Conclusion | Ranjeeth Chavan
The Nakheel-Meydan merger is set to redefine Dubai’s property market. With a keen eye for innovation and a commitment to creating a more structured real estate landscape, the merger is expected to be a cornerstone in Dubai’s ongoing development. It is this strategic vision and transformative approach that industry experts like Ranjeet Chavan believe will not only sustain but also elevate Dubai’s position as a leading global real estate hub.
Explore Your Opportunity
We provide the most comprehensive selection of real estate possibilities for sale and rent around Dubai. We specialise in locating your ideal investment opportunity or dream house based on your exact preferences and needs.