'palm tree') is a real estate development company based in Dubai, United Arab Emirates.

[21] In 2013, the ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, approved US$898 million of funding for the company and ordered work to start on two major projects on the Palm Jumeirah.

[22][23] In 2017, the company achieved $1 billion net profit in nine months, delivering 1,200 units with 23,000 under construction in Dubai.

[24] The same year (2017), Nakheel awarded a $410 million contract for the Palm Gateway to the company Shapoorji Pallonji Mideast to construct a three-tower residential, retail, and beach club complex.

After a $4.6 billion debt restructuring deal, Nakheel relaunched the Palm Jebel Ali project, having stalled since 2008,[32][33] building 1,700 villas and 6,000 apartments on the man-made islands,[34] having previously contacted existing investors offering to buy back their contracts for plots and properties.

This happened because Dubai's government refused to bail out Nakheel's parent company,[38][40] due to which it requested a stay on debt payments, and consequently, it was downgraded to junk status.