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Developer profile
Nakheel
The island developer behind the Palms, now owned by Dubai Holding
Nakheel built Palm Jumeirah and is the only source of new reclaimed-island homes in Dubai, at Palm Jebel Ali and Dubai Islands. Since March 2024 it has been part of Dubai Holding, the Ruler's investment company. Its record has two halves: projects sold before 2009 stalled for a decade or more after the financial crisis, while projects sold since 2022 are mostly on track, with Palm Jebel Ali villas due to start handing over from late 2026. Buyers should weigh long timelines, published handover dates that differ between sources, and the absence of published accounts.
What Nakheel does well
- Owned by Dubai Holding since March 2024, with the Ruler's direct backing.
- Controls Dubai's new island land: Palm Jebel Ali and Dubai Islands are the only new reclaimed-island supply.
- Visible construction spending: more than AED 13bn of Palm Jebel Ali contracts by August 2026, plus AED 2.6bn for Bay Villas (August 2025) and AED 800m for Bay Grove (September 2026).
- Recent delivery has held up: Palm Jebel Ali villas sold in 2023 are due to start handing over from late 2026, and Jebel Ali Village began handing over 892 homes in August 2026.
- Off-plan mortgage partnerships with five financing partners (Emirates NBD, ADIB, CBD, ADCB and a mortgage broker), signed April–September 2026.
Check before you buy
- Published handover dates differ. Palm Jebel Ali Fronds A–F show Q1 2028 on Property Finder, but the April 2026 construction contracts run to Q4 2028. Rely on the date in your SPA.
- Check construction progress. Bay Villas at Dubai Islands is due in Q2 2027, but construction was at 2.61% in October 2025 and the main contract was only awarded in August 2025.
- In JVC, JVT, Al Furjan, Discovery Gardens and International City, Nakheel planned the community but most buildings are by other developers. Check who built the building you are buying.
- Nakheel publishes no accounts, sales figures or delivery statistics, and has no published credit rating (October 2026).
- Palm Jebel Ali is a long hold. Handovers run from late 2026 to 2030 and the community will not be complete until the 2030s.
History
The milestones that shaped Nakheel.
- 2002Reclamation work began on Palm Jebel Ali.
- 2003Palm Jebel Ali launched with about 2,000 homes priced AED 1.87m–5.11m. Wikipedia gives this as Nakheel's founding year.
- 2004–2008Launched Jumeirah Islands, Jumeirah Village Circle and Triangle, Jumeirah Park, Discovery Gardens, International City, Al Furjan and Palm Deira. Ibn Battuta Mall opened in 2005.
- 2008–2009Work on Palm Jebel Ali slowed, then stopped, and its sales were cancelled. In December 2009 Nakheel's USD 3.5bn sukuk was repaid only after Abu Dhabi provided USD 10bn of support to Dubai.
- 2011AED 59bn debt restructuring completed. Ownership passed to the Government of Dubai.
- 2022Palm Deira restarted as Dubai Islands. New brand and logo.
- 2023New Palm Jebel Ali masterplan approved in May. Villa sales relaunched at AED 18m–25m and passed AED 5bn in under 40 days.
- 2024Merged into Dubai Holding on 16 March. AED 5bn of villa contracts awarded for Palm Jebel Ali Fronds K–P. Bay Villas launched at Dubai Islands in July.
- 2025Select Group became the first private developer on Palm Jebel Ali (July). Palm Central Private Residences launched (29 October).
- 2026AED 3.5bn of contracts awarded for 544 villas on Fronds A–F (April). Off-plan mortgage partnerships signed with five financing partners. Jebel Ali Village handovers began (August). Bay Estate launched at Dubai Islands (5 October).
Delivery track record
Nakheel's record falls into two eras. Before 2011 it had the weakest delivery record of the major Dubai developers: Palm Jebel Ali, sold in 2003 with handover estimated for July 2011, stopped in 2008–09, and buyers were offered swaps into other properties or refunds instead of homes; Palm Deira stalled until it restarted as Dubai Islands in 2022. Since 2022, under government and then Dubai Holding ownership, it has done much better. A broker analysis of developer track records (March 2026) estimates 75–85% of its recent projects are on time, with average delays of 4–8 months. Palm Jebel Ali villas on Fronds K–P, sold in 2023 for completion by the end of 2027, were in finishing works in August 2026, and Jebel Ali Village began handing over 892 homes in August 2026. Projects to watch are Bay Villas and Bay Grove at Dubai Islands, where construction started late relative to their sale dates.
| Project | Promised handover | What happened | Source |
|---|---|---|---|
| Palm Jebel Ali (original launch, 2003) | July 2011 (original estimate) | Work stopped in 2008–09 and sales were cancelled. Buyers were offered swaps or refunds. The island was relaunched with a new masterplan in 2023. | Wikipedia; Propsearch, October 2026 |
| Palm Deira | Launched 2004–08; date not published | Stalled after 2008. Restarted in 2022 as Dubai Islands. | Wikipedia |
| Palm Jebel Ali villas, Fronds K–P (2023 relaunch) | By the end of 2027 | In internal and external finishing in August 2026. Nakheel expects the first handovers from late 2026. | Dubai Holding, August 2026; Nakheel, June 2026 |
| Jebel Ali Village (892 homes) | Launched 2022; original date not published | Handovers began on 17 August 2026 | Dubai Holding press releases, 2026 |
| Bay Villas, Dubai Islands | Q2 2027 | Sold out in July 2024. Main AED 2.6bn contract awarded August 2025. Construction at 2.61% on 2 October 2025. | Property Finder; Dubai Holding |
| Bay Grove Residences phase 1, Dubai Islands | Q1 2028 | Sold out. Construction at 1%; AED 800m main contract awarded 17 September 2026. | Property Finder; Dubai Holding, September 2026 |
Nakheel projects selling or being built now
Starting prices are launch or asking prices at the date shown. Prices move, payment plans change and some projects sell out quickly, so ask us for today’s availability.
| Project | Area | Type | Bedrooms | Sizes | Starting price | Price per sq ft | Payment plan | Handover | Status |
|---|---|---|---|---|---|---|---|---|---|
| Palm Jebel Ali Frond A villas (Beach and Coral Collections) | Palm Jebel Ali | Villas | 5–7 | 7,316–12,165 sq ft | AED 18.6m (launch, January 2025); 5-bed AED 19m (listed October 2026) | c. AED 2,410 (5-bed, October 2026, derived); DLD resales AED 2,703–2,729 (November 2025–June 2026) | 20/60/20 | Q1 2028 | Sold out; resales available |
| Palm Jebel Ali Fronds B, C, D, E and F (Beach and Coral Collections) | Palm Jebel Ali | Villas | 5–7 | 7,316–12,165 sq ft (as Frond A) | AED 18.1m (Fronds B, C, D, F) and AED 22.9m (Frond E); Coral Collection from AED 29m (listed October 2026) | 80/20 or 20/60/20 | Q1 2028 (portal); construction contracts run to Q4 2028 (April 2026) | Selling; Frond C sold out | |
| Palm Jebel Ali Frond F beachfront release (44 villas) | Palm Jebel Ali | Villas | 5–7 | 7,500–8,500 sq ft (Beach); 11,500–12,500 sq ft (Coral) | Phased from late 2026 to 2027 (Nakheel, August 2026); Property Finder shows Q1 2028 for Frond F | Selling (released 20 August 2026) | |||
| Palm Jebel Ali Fronds I, J, K and P | Palm Jebel Ali | Villas | 5–6 | AED 18m (listed October 2026) | Q3 2027 (P); Q4 2027 (I, K); Q4 2029 (J) | Mostly sold; Fronds K–P in finishing works (August 2026) | |||
| Palm Central Private Residences, Frond N | Palm Jebel Ali | Apartments and townhouses (3 buildings) | 1–5 | 1-bed c. 839 sq ft; 2-bed c. 1,206 sq ft; 3-bed c. 2,029 sq ft | AED 2.7m for a 1-bed (phase 2, June 2026) | DLD resales AED 3,350–3,800 (1 October 2026) | 60/40 | September 2030 (Nakheel); Q4 2030 (portal) | Phase 1 sold out; phase 2 (222 homes) selling |
| Palm Central Private Residences, Frond M | Palm Jebel Ali | Apartments, townhouses and penthouses | 1–5 | AED 2.5m (listed October 2026) | 60/40 | Q3 2030 | Selling | ||
| Bay Villas | Dubai Islands | Townhouses and villas | 3–5 | 3,401–8,075 sq ft | AED 4m–5m for a 3-bed (launch, July 2024) | DLD resale AED 1,403 for a 4-bed (July 2026) | 20/60/20 | Q2 2027 | Sold out; construction 2.61% (October 2025) |
| Bay Grove Residences (phases 1–4) | Dubai Islands | Apartments and penthouses | 1–4 | AED 1.85m (phase 1, 2024); phase 4 from AED 2m (listed October 2026) | AED 2,448 Dubai Islands index (Bayut, August 2026) | 70/30 or 20/60/20 (sources differ; confirm in the SPA) | Q1 2028 (phase 1) to Q2 2029 (phase 4) | Phases 1–3 sold out; phase 4 selling; main contract awarded September 2026 | |
| Bay Estate (Verda, Cala, Agora) | Dubai Islands | Gated waterfront homes | AED 5m (launch, October 2026) | Q4 2029 (Bay Estate); Q1 2031 (Cala, Agora) | Launched 5 October 2026 | ||||
| Rixos Hotel & Residences, phases 2 and 3 | Dubai Islands | Rixos-branded apartments and beachfront villas | 1–4 | AED 2.6m (phase 2) and AED 4.5m (phase 3) (listed October 2026) | 20/60/20 | Q4 2026 (phase 2); Q1 2029 (phase 3) | Phase 3 sold out | ||
| Beach Residences Dubai Islands | Dubai Islands | Apartments | 1–3 | AED 2.6m (listed October 2026) | Q1 2027 | Selling | |||
| Como Residences | Palm Jumeirah | Apartments in a 75-storey tower | 2–7 | AED 21m (2026) | 20/60/20 | Q3 2027 | Selling | ||
| The Palm Crown | Palm Jumeirah | Villas | AED 85m (listed October 2026) | Q3 2027 | Sold out; AED 400m contract awarded December 2025 | ||||
| Palm Beach Towers podium villas | Palm Jumeirah | Villas on a podium | AED 5.3m (launch, May 2026) | Q1 2027 | Selling | ||||
| Naya at District One, phases 2 and 3 | Mohammed Bin Rashid City | Apartments | 1–2 | AED 1.37m (phase 3) and AED 1.7m (phase 2) (listed October 2026) | Q3 2027 (phase 3); Q3 2028 (phase 2) | Selling | |||
| Paradise One | Jumeirah Village Triangle | Apartments | AED 1.2m (listed October 2026) | Q2 2027 | Under construction, 68% (October 2026) | ||||
| Jebel Ali Village | Jebel Ali | Villas (892 homes) | From 17 August 2026 | Handing over |
Completed projects
| Project | Area | Completed | Type | Notes |
|---|---|---|---|---|
| Palm Jumeirah | Palm Jumeirah | 2006 onwards | Villas, apartments, hotels and retail | Includes Shoreline Apartments, Garden Homes, Signature Villas, Golden Mile, The Palm Tower and Nakheel Mall. Bayut index AED 4,982/sq ft (September 2026). |
| Jumeirah Islands | Jumeirah Islands | 2000s | Villas | Villa values up 12.2% in the year to August 2026, the strongest of any Dubai villa area (ValuStrat). |
| Jumeirah Park | Jumeirah Park | 2010s | Villas | Villas built by Nakheel. |
| Al Furjan | Al Furjan | Phased from 2011 | Villas and townhouses; apartments by other developers | Villas AED 1,677/sq ft with a 4.56% gross yield (Bayut, H1 2026). |
| Discovery Gardens | Discovery Gardens | Late 2000s | Apartments | 9.47% gross yield (Bayut, 2025). |
| International City | International City | Late 2000s | Apartments | 10.3% gross yield (Bayut, 2025). Among the cheapest homes in Dubai. |
| Jumeirah Village Circle and Triangle (master plan) | JVC and JVT | From 2005 | Apartments, villas and townhouses, mostly built by other developers | JVC apartments AED 1,470/sq ft with a 7.15% gross yield (Bayut, H1 2026). |
| Ibn Battuta Mall | Jebel Ali | 2005 | Retail | One of several Nakheel malls, with Dragon Mart and Nakheel Mall. |
How owners have done
Nakheel's newer projects have resold above launch price, but by less than brokers often advertise. Palm Jebel Ali villas relaunched in 2023 at AED 18m–25m; Frond A launched at AED 18.6m–19m, and DLD records show a 5-bed resale at AED 20.85m (November 2025) and a 6-bed at AED 19.98m (June 2026), about AED 2,700/sq ft. Palm Central apartments launched from AED 2.5m–2.7m in October 2025; a 1-bed resold for AED 2.81m on 1 October 2026. A Bay Villas 5-bed launched at AED 14m resold for AED 16m in July 2026. Bay Villas also had 205 resale listings in October 2026, which points to many owners trying to sell before handover. Palm Jumeirah data is mixed: Bayut's listing index shows AED 4,982/sq ft, up 1.82% in the year to September 2026, while ValuStrat's valuations show villas down 6.2% and apartments down 8.6% in the year to August 2026, when Dubai prices overall were 10.2% below the February peak. Dubai Islands has been the strongest of the new areas, up 5.39% in the year to August 2026. Older mid-market communities give the highest yields, such as JVC apartments at 7.15% (Bayut, H1 2026).
| Community | Price per sq ft | Change | Gross yield | Source |
|---|---|---|---|---|
| Palm Jumeirah | AED 4,982 (September 2026) | +1.82% listings (September 2026); valuations −6.2% villas, −8.6% apartments (August 2026) | 4.48% apartments; 3.95% villas (H1 2026) | Bayut price index; ValuStrat; Bayut H1 2026 sales report |
| Dubai Islands | AED 2,448 (August 2026) | +5.39% (August 2026) | Bayut price index | |
| Palm Jebel Ali villas | AED 2,703–3,013 DLD resales (November 2025–September 2026) | Not yet available (no homes handed over) | Propsearch; Property Finder (DLD data) | |
| Jumeirah Islands (villas) | AED 3,905 (H1 2026) | +12.2% valuations (August 2026) | 3.89% (H1 2026) | Bayut H1 2026 sales report; ValuStrat |
| Jumeirah Village Circle (apartments) | AED 1,470 (H1 2026) | 7.15% (H1 2026) | Bayut H1 2026 sales report | |
| Al Furjan (villas) | AED 1,677 (H1 2026) | 4.56% (H1 2026) | Bayut H1 2026 sales report |
Bayut and Property Finder figures are mostly asking prices and rents, not completed sales. Yields are gross, before service charges, maintenance and empty periods.
Payment plans and what’s on offer
- Payment plans
- Construction-linked plans that vary by release (2026): 80/20 on Beach Collection villas, 20/60/20 on Frond A and Bay Villas, 60/40 on Palm Central and 70/30 on Bay Grove. Portals disagree on some plans, so confirm in the SPA. Payments go into a RERA escrow account.
- Post-handover plans
- None found on current Nakheel launches (October 2026).
- Mortgages on off-plan
- Dubai Holding Real Estate signed off-plan financing partnerships with Emirates NBD (April 2026), a mortgage broker (May), ADIB (May, Sharia-compliant), Commercial Bank of Dubai (June) and ADCB (September 2026). They cover Nakheel, Meraas and Dubai Properties buyers.
- Golden Visa
- Homes bought for AED 2m or more qualify. Dubai Holding Real Estate launched a Golden Visa help service for Nakheel and Meraas buyers on 29 June 2026. Palm Jebel Ali, Dubai Islands and Palm Jumeirah homes are above AED 2m; Naya phase 3 (AED 1.37m) and Paradise One (AED 1.2m) start below it (October 2026).
- Branded residences
- Rixos Hotel & Residences (Dubai Islands), Como Residences (Palm Jumeirah) and Palm Beach Towers (Palm Jumeirah).
- Service charges
- AED per sq ft a year (2026 ranges): Palm Jumeirah apartments 20–40, JVC 10–16, Al Furjan 14–16, Discovery Gardens 8–11, International City 6–11, Dubai Islands 16–20 (projected). Palm Jebel Ali charges have not been set (broker surveys, March and September 2026).
Who Nakheel suits
Nakheel suits buyers who want a home on the water, because it controls nearly all new island land in Dubai. Palm Jebel Ali suits wealthy, patient buyers: villas start at about AED 18m (2026), handovers run to 2030 and the community will take years to mature. Dubai Islands suits buyers who want a beachfront apartment or villa at lower prices than Palm Jumeirah. Nakheel's older communities, such as JVC, Discovery Gardens and International City, suit yield investors, provided they check who built the building. It suits less well buyers who need a post-handover plan, a fixed move-in date or published company accounts.
Thinking of buying? We have sold off-plan for the major developers and can compare Nakheel projects with similar homes from others, including resales that may cost less than a new launch.
Nakheel FAQs
Is Nakheel a good developer?
Today Nakheel is part of state-owned Dubai Holding, is spending heavily on construction (more than AED 13bn contracted on Palm Jebel Ali by August 2026) and has an estimated 75–85% on-time record since 2022. Its history is the caveat: projects sold before 2009, including the first Palm Jebel Ali, stalled for more than a decade. Judge it mainly on its recent record, which so far is holding.
When is the Nakheel Palm Jebel Ali handover?
Nakheel says the first villas, on Fronds K–P, will hand over from late 2026 into 2027. The 544 villas on Fronds A–F are contracted for completion by Q4 2028, although Property Finder shows Q1 2028. Frond J is due Q4 2029 and Palm Central apartments in Q3–Q4 2030 (October 2026).
How much does a Palm Jebel Ali villa cost?
Launch prices start at about AED 18m for a 5-bed Beach Collection villa of about 7,900 sq ft, rising to AED 29m–33m for 7-bed Coral Collection villas (2025–26). DLD resales in 2025–26 were AED 19.98m–20.85m for 5–6 beds, about AED 2,700/sq ft. Palm Central apartments start at AED 2.5m–2.7m (2026).
What is the Nakheel payment plan?
It varies by release: 80/20 or 20/60/20 on Palm Jebel Ali villas, 60/40 on Palm Central apartments and 70/30 on Bay Grove (2026). Payments are linked to construction, and there are no post-handover instalments on current launches.
Who owns Nakheel?
Dubai Holding, the investment company of the Ruler of Dubai, since a merger on 16 March 2024. It is run through Dubai Holding Real Estate, chaired by Sheikh Ahmed bin Saeed Al Maktoum with Khalid Al Malik as CEO. There are no outside shareholders.
Did Nakheel go bankrupt?
No. But in December 2009 it could repay a USD 3.5bn sukuk only after Abu Dhabi provided USD 10bn of support to Dubai. Its AED 59bn of debt was restructured in 2011 and ownership passed to the Dubai government.
What are Nakheel service charges?
Roughly AED 20–40 per sq ft a year for Palm Jumeirah apartments, 10–16 in JVC, 14–16 in Al Furjan, 8–11 in Discovery Gardens and 6–11 in International City. Dubai Islands is expected at 16–20, and Palm Jebel Ali has not been set (2026 ranges).
Is Dubai Islands a good investment?
Bayut's index for Dubai Islands rose 5.39% in the year to August 2026, the strongest of Nakheel's new areas. Bridges to Bur Dubai were contracted in 2025. Against that, most towers there are by other developers, Nakheel's Bay Villas was at the early stage of construction with a Q2 2027 handover, and 205 Bay Villas resale listings were competing in October 2026.
Does Nakheel build the apartments in JVC and Al Furjan?
Mostly not. Nakheel planned those communities and sold plots to other developers, who built most of the towers. Research the building's own developer before you buy there.
Can I get a mortgage on a Nakheel off-plan property?
Yes, through partnerships Dubai Holding Real Estate signed in 2026 with Emirates NBD, ADIB, Commercial Bank of Dubai, ADCB and a mortgage broker. Lending terms depend on the bank and on you.
Sources and how we checked (27)
Facts checked October 2026 from the developer’s own announcements and results, Dubai Land Department records (via Property Finder, DXBinteract and Propsearch), Bayut market reports and the press. Figures given by the developer are labelled as theirs. This page is information, not financial advice.
- Nakheel Properties (Wikipedia)
- Nakheel: About us
- Nakheel and Meydan merge with Dubai Holding (AGBI, March 2024)
- Dubai Holding press releases, 2025–2026
- Nakheel press releases
- Nakheel unveils 44 beachfront villas on Palm Jebel Ali Frond F (Dubai Holding, 20 August 2026)
- Nakheel awards AED 3.5bn contracts for 544 Palm Jebel Ali villas (Dubai Media Office, 27 April 2026)
- Palm Jebel Ali villas head for first handovers this year (Nakheel, 16 June 2026)
- Nakheel launches 222 homes at Palm Jebel Ali (The National, 24 June 2026)
- Palm Jebel Ali (Propsearch, October 2026)
- Palm Jebel Ali 2026: status, prices and timeline (Real Estate Club Dubai)
- Off-plan handover delays in Dubai: developer track records (Real Estate Club Dubai, March 2026)
- Palm Jebel Ali Frond A villas (Property Finder, October 2026)
- Bay Villas by Nakheel (Property Finder, October 2026)
- Nakheel new projects (Property Finder, October 2026)
- Nakheel new projects (Bayut, October 2026)
- Nakheel developer guide 2026 (House & Hedges, August 2026)
- Nakheel off-plan 2026: beyond Palm Jebel Ali (Dubai Property Insight)
- Palm Central Private Residences spotlight (Coral Shore, August 2026)
- Bayut price index: Dubai Islands (August 2026)
- Bayut price index: Palm Jumeirah (September 2026)
- Dubai property prices August 2026, ValuStrat data (Property Portfolio Investor, 16 September 2026)
- ValuStrat Dubai VPI Residential, August 2026
- Bayut Dubai Sales Market Report 2025
- Dubai service charges by area 2026 (VILA Properties)
- Dubai service charges by area and developer 2026 (Oliva)
- Bayut H1 2026 sales report