Nakheel Properties, also known as Nakheel PJSC, is a significant real estate development firm based in Dubai, UAE. Established in 2003 as a subsidiary of state-owned Dubai World, it played a crucial role in Dubai's recovery from the 2009-2010 debt crisis. Nakheel is recognized as the second-largest property developer in Dubai after Emaar Properties. Throughout its history, Nakheel has faced various challenges and undergone restructuring efforts. Notably, in 2011, the company underwent a substantial debt restructuring process, with legal ownership transferring to the Government of Dubai in 2011. Despite these challenges, Nakheel has continued to pursue ambitious projects, receiving significant funding approvals from Dubai's ruler, Sheikh Mohammed bin Rashid Al Maktoum, for developments such as the Palm Jumeirah. In recent years, Nakheel has embarked on several significant initiatives, including rebranding efforts in 2022 and the relaunch of stalled projects such as Palm Jebel Ali. These endeavors signify Nakheel's commitment to revitalizing Dubai's real estate market and continuing its growth trajectory. Despite facing setbacks during the 2007-2008 financial crisis, Nakheel has maintained a diverse portfolio of projects spanning residential, retail, hospitality, and leisure sectors in Dubai.

Nakheel Properties - Wikipedia