Nakheel Developer won’t hike deposit fee for new sales

Master developer Nakheel continues to consolidate its project portfolio though has denied any raise in non-refundable deposit amount for new sales reservation contracts. This counters reports within the industry that Nakheel had stopped consolidation offers while it has increased the non-refundable deposit by five times of new contracts.
As per sources, Nakheel will determine projects that will remain on hold towards the end of the re-capitalisation process. "Projects have been prioritised following an assessment of construction stages, cost of completion, customer collections, and market supply and demand. We will have determined, which projects are likely to remain on hold towards the end of the recapitalisation process," the spokesperson said.

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