Wednesday 3 October 2012

Nakheel builds back the trust - The National

Ali Rashid Lootah, the chairman of the Dubai developer Nakheel, hopes with this year's Cityscape in the emirate he is finally able to convince the property-buying public to put their trust back in his company.

As there were long lines of more than 120 people outside his sales office hoping to get their hands on new villas at the Jumeirah Park scheme this week, it looks like he might succeed.

The developer took deposits for 202 of 360 villas at the scheme with a total value of Dh888 million (US$241.7m). For Mr Lootah it is a promising sign the work he has put in for the past two years is finally paying off.

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