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A lifeline for Dubai developers

16th February 2009 Print
Just six months ago it would have been hard to comprehend that the affluent quarters of the Middle East would ever need a financial lifeline, however with the ‘eye of the credit crunch storm’ now firmly fixed on the Middle East, developers need rescuing and the most favourable ‘lifeboat’ is Nexus Development Ltd, a specialized development company which has the experience and ability to steer companies to calmer waters.

A number of developers have felt the full force of this financial storm and are already beyond rescue in these unparalleled times, however many continue to teeter in the wind as investment slows and it is these companies that Nexus Development Ltd are able to help with a range of services backed by a wealth of knowledge.

Oliver Hickey Managing Director of Nexus Development Ltd said, “Spectacular rescue plans are becoming par for the course in the Middle East. Recent news that the developer Nakheel, which owns the Palm Jumeirah is discussing a potential £10 Billion flotation in 2009 to raise additional funds in a down turn economy has undoubtedly sent a shock wave through the whole region. The truth is though, that many developers don’t need to be as spectacular and quite as public in their survival plan. Realistically in most cases, all that is needed is an in depth analysis and understanding of their business followed by significant infrastructural changes coupled with clear goals.”

Oliver Hickey continues “There has been a dramatic increase in the number of enquiries received by Nexus over the last six weeks, which ultimately reflects on just how hard the Middle East has been hit by the credit crisis. Collectively the Principals of Nexus offer over 60 years experience in global property markets, but it is our understanding of the Middle East, our track record and our huge network of contacts that developers are now keen to utilise. 2009 will be a busy year for Nexus as we help to stabilise and reassure Middle East developers. The Middle East will ultimately reclaim its crown as the world’s most lucrative property investment region; you can be assured of that.”

Nexus Development Ltd specialises in the Middle Eastern region, providing a comprehensive range of property advisory and master planning services, including land holding companies, investors, government agencies and financial institutes. As an experienced specialized development company, that take pride in maximising the profits and efficiencies on each specific project, they are able to add value by applying seasoned development team resources, prestigious designer and branding partners and strategic marketing alliances to ensure success of sales.

Oliver Hickey said, “Our remit is simple. We look at each development as a stand alone bespoke project, taking into account, location, assets, finance and structuring before delivering an independent assessment of the projects potential profitability. We then aim to deliver a documented survival package by making the said development attractive to potential investors. By taking on the lead role of coordinating with planners, architects, economists, local agencies and legal councils we are able to maximise value for our capital partners which is the primary objective.”

The importance Nexus give to their partners is derived from the belief that Nexus’ image is reflected in theirs. In addition, in furthering their commitment to the community, Nexus endeavours to ensure that their project environments are operating at optimal functionality and according to the best practices of maintenance by integrating people, places, processes and technology and thereby simultaneously delivering energy saving benefits to both the future owners of their properties and the environment.

Oliver continues, “Undoubtedly at a time of such financial insecurity, sales are imperative and Nexus prides itself on working intensively on the strategic marketing function of developments to establish the positioning of projects and identifying precise target market segments. In addition we direct appropriate media selection, the overall marketing campaign, its budget, allocation and organization and the eventual sales/lease management service. It is probably fair to say that at a time of unprecedented financial turmoil in the Middle Eastern region Nexus Development Ltd is the ‘big brother’ to all of those experiencing choppy waters and its is our job to cut through the waves and to find a smoother passage.”

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