Nakheel merges with DMCC property wing

Nakheel has been merged with the property wing of Dubai Multi Commodities Centre (DMCC), it has been reported.

"DMCC's property-related operations have been integrated with Nakheel to better accomodate current market conditions and optimise resources and expertise," a DMCC spokesman told The National.

DMCC’s main property project is Jumeirah Lake Towers, which will consist of 87 towers, is due for completion in 2011. Nakheel was involved in the initial stages of development.

In February, Dubai Holding merged the administrative and back-office functions of Dubai Properties, Sama Dubai and Mizin.

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