Nakheel awards $222m contract for Palm Tower
The Palm Tower comprises 504 luxury residences and a five star, 290-room hotel with an array of dining and leisure facilities
Dubai developer Nakheel has awarded a contract worth $222m (AED819m) for the construction of The Palm Tower, its 52-storey, five star hotel and residential complex on Dubai’s Palm Jumeirah.
Nakheel has appointed UAE-based Trojan General Contracting and National Projects & Construction to jointly build the luxury project, which will tower almost 240 metres above Dubai’s Palm Jumeirah island.
The Palm Tower comprises 504 luxury residences and a five star, 290-room hotel with an array of dining and leisure facilities, including a rooftop infinity pool, restaurant and viewing deck.
The hotel will occupy the first 18 floors of the building.
The Palm Tower residences, on sale with prices starting from $462,818 (AED1.7m), comprise fully-furnished studios and one, two and three bedroom apartments with views of Palm Jumeirah, the Arabian Gulf and the Dubai skyline.
Residents and guests at The Palm Tower will enjoy direct access to Nakheel Mall, currently under construction at the heart of Palm Jumeirah.
The luxury mall, one of 10 new, large-scale retail projects from Nakheel, will have 300 shops, cinemas, a medical centre, a fitness centre and a roof terrace offering fine dining outlets and unrivalled island, sea and skyline views.
The Palm Tower will also offer direct access – via a bridge and walkways – to Palm Jumeirah’s beach clubs, including Nakheel’s Club Vista Mare and Palm Promenade West Beach projects.