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Nakheel Properties
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<p>Nakheel Properties is a <a href="/facts/Real_estate/fngFAqrR">real estate</a> development company based in <a href="/facts/Dubai/v44jdkJK">Dubai</a>, <a href="/facts/United_Arab_Emirates/o1bEjgbR">United Arab Emirates</a>. The formal name of the company is Nakheel PJSC (private <a href="/facts/Joint_stock_company/xYW3eJgd">joint stock company</a>) and it was a subsidiary of <a href="/facts/Dubai_World/4cIkTaHm">Dubai World</a> and a private <a href="/facts/State-owned_enterprise/yml2hFlI">state-owned enterprise</a>. </p><p>Nakheel was central to Dubai's debt crisis in 2009–2010. The company has been reported to be the second-largest property developer in Dubai after <a href="/facts/Emaar_Properties/lbQnRgwf">Emaar Properties</a>. </p><p>On 16 March 2024, Nakheel, along with <a href="/facts/Meydan_Racecourse/hKHMnm6T">Meydan</a>, was merged into <a href="/facts/Dubai_Holding/wgIzQh6E">Dubai Holding</a> and ceased to be a separate entity. </p>