Nakheel announces $80m The Pointe on Palm Jumeirah
Exclusive new development on tip of Palm trunk to be open by 2013 end
Nakheel has announced plans to build an exclusive new $80m restaurant and shopping area at the tip of its Palm Jumeirah development in Dubai.
The Pointe will be constructed at the tip of the Palm’s trunk and will face the Atlantis hotel. It will cover 131,000m2 and include 56,120m2 of high end retail shops, and a combination of informal and formal dining, a 34,130m2 promenade, marina with floating pontoons and computerised water fountain set offshore.
The Pointe will also have 1,200 car parks and links to the Palm Jumeirah monorail system. Water taxis will also operate between the Palm Atlantis and the Pointe, while the marina will allow boat owners to moor nearby and visit the development.
The initial designs have been produced by Dar Al Handasah, and plans include space for 75 retail shops and 120 cafes and restaurants.
Nakheel chairman Ali Rashid Lootah told reporters that tenders for work on the project would be announced within the next two months, and that work would begin onsite by mid-year. He said construction would take 18 months, and that The Pointe would be ready to open at the end of 2013.
“We will see,” Lootah said when asked whether 18 months was a realistic timescale for the development.
“It is a relatively straightforward plan, and contractors need the work. If you pay contractors, they will do the work – and we have gone to great lengths to ensure we have paid everyone,” Lootah said.
Adnan M Hegrat, Nakheel’s managing director, Retailcorp World, said the company was in the process of gathering together letters of interest from retailers – and compiling a list of those most appropriate for the development.
“It has gathered a lot of interest – and we expect many others to seriously consider the location and potential on offer,” he said.