Nakheel is a real estate developer in Dubai

Dubai

Dubai is a city and emirate in the United Arab Emirates . The emirate is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi...

 and creator of several land reclamation

Land reclamation

Land reclamation, usually known as reclamation, is the process to create new land from sea or riverbeds. The land reclaimed is known as reclamation ground or landfill.- Habitation :...

 projects, including the Palm Islands

Palm Islands

The Palm Islands are an artificial archipelago in Dubai, United Arab Emirates on which major commercial and residential infrastructures will be constructed...

, the Dubai Waterfront

Dubai Waterfront

The Dubai Waterfront was expected to become the largest waterfront and largest man-made development in the world. The project is a conglomeration of canals and artificial archipelago; it will occupy the last remaining Persian Gulf coastline of Dubai, the most populous emirate of the United Arab...

, The World

The World (archipelago)

The World or World Islands is an artificial archipelago of various small islands constructed in the rough shape of a world map, located off the coast of Dubai, United Arab Emirates. The World islands are composed mainly of sand dredged from Dubai's shallow coastal waters, and are one of several...

 and The Universe Islands

The Universe (Dubai)

The Universe is a planned artificial archipelago in the shape of the Milky Way and Solar System, that would be built off the coast of Dubai, United Arab Emirates. The project was announced in January 2008 by the developer Nakheel, which also built the Palm Islands and The World archipelago...

. Its residential projects include The Gardens, International City

International city

An international city is an autonomous or semi-autonomous city-state that is separate from the direct supervision of a single nation-state.-Rationale for establishment:International cities had either had one or both of the following characteristics:...

, Jumeirah Islands

Jumeirah Islands

Jumeirah Islands is a housing development in Dubai, United Arab Emirates, developed by Nakheel Properties, one of Dubai's largest developers. Jumeirah Islands consists of small islands , each comprising 16 villas. They all sit in an artificial lake...

 and Jumeirah Lake Towers

Jumeirah Lake Towers

The Jumeirah Lake Towers is a huge development in Dubai, United Arab Emirates which consists of a 79 towers being constructed along the edges of four artificial lakes as well as the JLT Embankment of 8 tower facing Jumeirah Islands. The lakes will be completely filled by end of 2009...

. Its shopping projects include The Dragon Mart

Dubai International City

Dubai International city is a country-themed architecture of residences, business, and tourist attractions. Spreading over an area of 800 hectares , the arrangement of the city is inspired by the traditional carpets of Middle East...

 (At International City) and Ibn Battuta Mall

Ibn Battuta Mall

The Ibn Battuta Mall is a large shopping mall on the Sheikh Zayed Road in Dubai close to Interchange 6 for Jebel Ali Village. It is named after Berber Moroccan famous traveller and explorer Ibn Battuta. This project was completed by the Nakheel Properties group in early 2005...

. Its main competitor in residential development in Dubai is Emaar Properties

Emaar Properties

Emaar Properties , based in the United Arab Emirates, is a Public Joint Stock Company listed on the Dubai Financial Market. Established in 1997 with an initial paid-up capital of AED 1 bn, Emaar Properties is currently the Persian Gulf region's largest land and real estate developer...

.

Properties portfolio

Nakheel's flagship properties are the three man-made palm tree shaped islands on the coast of Dubai. Nakheel operates under the umbrella of Dubai World

Dubai World

Dubai World is an investment company that manages and supervises a portfolio of businesses and projects for the Dubai government across a wide range of industry segments and projects that promote Dubai as a hub for commerce and trading. It is the emirate's flag bearer in global investments and has...

, which manages various businesses on behalf of the Dubai government. The executive chairman of Al Nakheel is Sheikh Ahmed bin Saeed Al Maktoum.

Nakheel's portfolio of real estate

Real estate

In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...

 include the Palm Islands (Palm Jumeirah

Palm Jumeirah

The Palm Jumeirah is an artificial archipelago created using land reclamation by Nakheel, a company owned by the Dubai government in United Arab Emirates. It is one of three islands called the Palm Islands which extend into the Persian Gulf, increasing Dubai’s shoreline by a total of...

, Palm Jebel Ali

Palm Jebel Ali

The Palm Jebel Ali are artificial archipelago, and began construction in October 2002 and were expected to be completed in mid 2008 though as of 2011 construction is on hold. The Palm Jebel Ali is expected to accommodate 1.7 million people by 2020. Once it has been completed, it will be encircled...

, Palm Deira

Palm Deira

The Palm Deira is an artificial archipelago, part of the Palm Islands, Dubai. It was announced for development in October 2004. The first announced design was 8 times larger than the Palm Jumeirah, and 5 times larger than the Palm Jebel Ali, and was intended to house one million people. Originally,...

), The World Islands

The World (archipelago)

The World or World Islands is an artificial archipelago of various small islands constructed in the rough shape of a world map, located off the coast of Dubai, United Arab Emirates. The World islands are composed mainly of sand dredged from Dubai's shallow coastal waters, and are one of several...

, The Universe Islands

The Universe (Dubai)

The Universe is a planned artificial archipelago in the shape of the Milky Way and Solar System, that would be built off the coast of Dubai, United Arab Emirates. The project was announced in January 2008 by the developer Nakheel, which also built the Palm Islands and The World archipelago...

, Dubai Waterfront

Dubai Waterfront

The Dubai Waterfront was expected to become the largest waterfront and largest man-made development in the world. The project is a conglomeration of canals and artificial archipelago; it will occupy the last remaining Persian Gulf coastline of Dubai, the most populous emirate of the United Arab...

, The Gardens, Jumeirah Lake Towers, Discovery Gardens

Discovery Gardens

Discovery Gardens is a residential community located in Jebel Ali, Dubai, United Arab Emirates. The community is composed of residential apartment units of different styles such as Contemporary, Zen, Moghul etc..-Recreation:...

, Lost City, Jumeirah Islands, Jumeirah Heights (a residential complex within Jumeirah Islands), Jumeirah Village, Jumeirah Park, Al Furjan, International City, Jewel of the Palm, The Golden Mile (which is in the trunk of the Palm Jumeirah), Nakheel International Hotel and Tower, another project on the trunk of the Palm Jumeirah, and Ibn Battuta Mall.

Nakheel has announced plans for the Nakheel Tower, which will be the world's tallest skyscraper

Skyscraper

A skyscraper is a tall, continuously habitable building of many stories, often designed for office and commercial use. There is no official definition or height above which a building may be classified as a skyscraper...

, if built, standing over two thirds of a mile high. The tower will take over a 10 years to complete and will be the center of a vast development complex, the Nakheel Harbour and Tower

Nakheel Harbour and Tower

Nakheel Harbour and Tower was a multibillion dollar real estate project planned in Dubai, United Arab Emirates. It was being built by the developer Nakheel, who once declared that the finished development will be the new, unofficial capital of Dubai...

. In early 2009 the tower was suspended due to the effects of the worldwide credit crunch

Credit crunch

A credit crunch is a reduction in the general availability of loans or a sudden tightening of the conditions required to obtain a loan from the banks. A credit crunch generally involves a reduction in the availability of credit independent of a rise in official interest rates...

.

The company also owns the retired ocean liner

Ocean liner

An ocean liner is a ship designed to transport people from one seaport to another along regular long-distance maritime routes according to a schedule. Liners may also carry cargo or mail, and may sometimes be used for other purposes .Cargo vessels running to a schedule are sometimes referred to as...

, Queen Elizabeth 2, which they planned to convert into a luxury hotel, that was to have been moored at the Palm Jumeirah.

On July 6th 2011, Dubai World’s Board of Directors announced that Nakheel's legal ownership will be transfered to the Government of Dubai upon completion of the company's financial restructuring. Total costs is around 2.5 billion dollars