Nakheel Developments announces its preparation to open its 1st branch outside the Egyptian real estate market, at “Time Oak Hotels & Suites” Hotel in Dubai, Invest-Gate reports.

Emad El Tabbakh, chairman of Nakheel Developments, says that the new branch in Dubai will be opened by mid-February, in the presence of Mohamed Awadallah, CEO of Time Hotels Group,  Sherif El-Domyati, Head of Commercial Sector at Nakheel Developments, and Basma Teleb, chief marketing officer of Nakheel Developments.

For his part, Emad El Tabbakh, Chairman of Nakheel Developments, says that the choice of UAE to open the company’s 1st foreign headquarters there is due to the presence of a strong purchasing power for Egyptians working in Dubai or non-Egyptian clients who seek to buy real estate in Egypt, whether for housing or investment.

He points out that the company seeks through this office, not only to market its projects in the NAC only, but also to market the NAC as a promising national project commensurate with the choices of clients from all over the world.

He adds that a large percentage of clients who made purchasing decisions abroad were concentrated in UAE, specifically in the Emirate of Dubai, which is one of the elements supporting the decision to launch a new branch in Dubai to serve existing and target customers.

Awadallah says that Dubai is distinguished by being a global destination for those seeking real estate investment opportunities outside their country, and the opening of a new branch of Nakheel Developments in Dubai contributes to increasing the growth rates of marketing the company’s projects abroad.

He points out that Nakheel Developments is distinguished by providing real estate products that suit global needs, as the company implements two distinct projects in the NAC, and cooperates with success partners in all the details of its projects and to keep pace with global developments in the real estate industry and with technological developments.

El-Domyati confirms that the expansion in the implementation of Egyptian projects with international standards that are commensurate with the choices of the foreign client, indicating that the company plans to achieve a strong sales rate for its projects through this new branch.

He explains that the Dubai branch will be the beginning of the company’s opening of other abroad branches, which will be opened soon, as part of a specific plan based on the opening of new branches in areas where there is demand, as the company aims to attract new clients from a certain region or country where purchasing power is available.

For her part, Teleb points out that the company is implementing two projects in the NAC and has succeeded in achieving good implementing and marketing rates in both projects, as the company has completed marketing about 80% of “Trio V Tower” project at the end of last year, excavation works on the project has been completed, and project licenses have been obtained in preparation for the start of strong implementation during the current year.

Also, she indicates that about 30% of the “Double Two Tower” project is marketed which is a Hotel apartment – Administrative offices – Commercial units, located on a total area of ​​9000 sqm, and the commercial area occupies the ground and first floors on an area of ​​​​4k sqm for each floor, representing about 45%  of the project’s total area, and the rest of the floors on an area of ​​1350 sqm for each floor, representing 15% of the total area of ​​the project, and the works of excavation and leveling the project land are underway.