"BRETT SIEGEL IS ONE OF THE MOST KNOWLEDGEABLE PEOPLE IN MIDDLE EAST REAL ESTATE. I HIGHLY RECOMMEND READING UAE MEGA PROJECTS." Khizer Schon Husain, VP, Schon Properties, Dubai

Sunday, September 14, 2008

Emaar Or Nakheel-- Who Ultimately Is Dubai's Number One Mega Developer?

There are many great Dubai Mega Developers, however I think most people will agree that the top two are Emaar and Nakheel. These two are developing some of the most incredible Mega Projects in world history! In this post I want to compare Emaar and Nakheel to see if we can decide who is NUMBER ONE in importance to the overall long term development of Dubai.

I will start by listing what I consider to be the most important Mega Projects being developed in Dubai by each company. I will not cover all their projects, which I have done in previous posts, just those I see as being the most important to Dubai's development as a primary world hub and destination.

EMAAR

> Burj Dubai
> Dubai Marina
> Downtown Burj Dubai
> Arabian Ranches

NAKHEEL

> Palm Jumeirah
> Palm Jebel Ali
> Palm Deira
> The World
> Dubai Waterfront
> Jumeirah Lake Towers
> Al Burj

Taking a look at both lists I would have to say that RIGHT NOW Emaar's most important project is Burj Dubai and Nakheel's most important project is Palm Jumeirah. Both projects are almost complete and already world icons. But which is more important to Dubai? I would have to say Burj Dubai. As the tallest building in all the world Burj Dubai has brought huge amounts of publicity to Dubai with much more to come. Palm Jumeirah has of course also brought an enormous amount of publicity to Dubai, but, alas, not as much as the world's tallest building. There is only ONE world's tallest building, but there are many man made islands being developed.

Therefore, RIGHT NOW, I consider Emaar to be more important than Nakheel. However when I look into the FUTURE the picture changes. Burj Dubai will not remain the world's tallest building. Nakheel is building the Al Burj which will be even taller than Burj Dubai. In addition, the 3 Palm Islands, once they are all finished, will be world icons on par with the Pyramids of Egypt. And Nakheel's World Islands project has already become famous internationally!

Both Emaar and Nakheel have Multi-Tower developments going up. For Emaar we have Dubai Marina and for Nakheel we have Jumeirah Lake Towers (JLT). These two Mega Developments are even being built across from one another....talk about competition! Dubai Marina will probably end up being more important than JLT for Dubai, so in the 'Battle of the Towers' I would have to give it to Emaar.

Nakheel is building the gigantic Dubai Waterfront, the largest waterfront development in the world, that will eventually house 1.5 million residents and be bigger than Beirut and Manhattan! Emaar is building Downtown Burj Dubai and Arabian Ranches.... both of these Emaar projects are fabulous developments however they do not compare in size and scope to Nakheel's Dubai Waterfront.

When I take all of the above information into account who do I think will ULTIMATELY be the most important developer for Dubai's future? I would have to say Nakheel. I think that once all of the projects I have listed are complete, the Nakheel projects will benefit Dubai even more than the Emaar projects. Thus I would have to say that Nakheel is the NUMBER ONE Dubai Mega Developer!

These links take you to the Nakheel and Emaar websites where you can decide for yourself who is number one:

http://www.nakheel.com

http://www.emaar.com

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