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Dubai: Nakheel auctioned nearly Dh34 million worth of prime land at Jumeirah Park on Wednesday, selling all eight available plots for an average Dh4.3 million each.
More than 50 potential investors signed up for the auction, with buyers paying over Dh500 per square foot for the residential land at Nakheel’s Jumeirah Park community development.
“Today’s land auction was a great success. Nearly 80 per cent of attendees had registered a day in advance, highlighting the huge appetite for prime land in Dubai,” a Nakheel spokesman said.
Jumeirah Park spans 350 hecatres and will have around 3,000 homes and a host of integrated facilities when fully complete. Among them is Jumeirah Park community centre, Nakheel’s new, 114,000 sq ft retail and dining venue with a supermarket and nearly 30 other shops and cafes. Shop fit-out is now underway, with the centre due to open mid-2014.
Source: Staff Report, gulfnews.com