A government-controlled developer, wholly owned by Dubai World. Nakheel built The Palm Jumeirah, Jumeirah Village Circle, Discovery Gardens, International City, Dragon Mart, and several other major communities. The name means 'palm trees' in Arabic.

The 2009 crisis — when Nakheel's $3.5 billion bond default triggered a global financial shockwave — is one of Dubai's more instructive episodes: the same ambition that built the Palm nearly undid the company behind it. Abu Dhabi's financial support and a lengthy restructuring kept the projects alive. Most of the communities Nakheel built are now among Dubai's most populated.