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Nakheel's Palm tower takes shape

Dubai - Developer awards Dh1.4b contract to build three-tower leasehold homes

 Nakheel has awarded a construction contract worth nearly Dh1.4 billion for The Palm Gateway, a three-tower residential, retail and beach club complex at the entrance of the Palm Jumeirah.
Nakheel has appointed the Dubai branch of South Korean contractor Ssangyong Engineering & Construction and China State Construction Engineering Corporation to carry out the work, which is expected to begin in Q1 2016 and take over two years to complete.
The Palm Gateway includes 1,265 luxury homes across three high-rise buildings - the tallest topping 285 metres - to be constructed on top of the existing Palm Monorail terminal, which includes 14 levels of parking spaces.
Apartments range from one to three bedrooms and will be available on lease. These include 32 beach-facing apartments and 16 duplex within the existing 14-storey building.
The entire complex will have a gross floor area of 5.5 million square feet. The tallest tower will be the 285m-tall, 59-storey Tubular Tower. There will also be two 48 floor towers - Central Tower and Beach Tower.
The waterfront living and leisure complex, set in extensively landscaped grounds, will also have retail, dining and fitness facilities, including parks, pools and sports courts.
The Palm Monorail will remain operational throughout the construction of the project.
With views of Palm Jumeirah, the Arabian Gulf and some of Dubai's landmarks, The Palm Gateway will have its own beach club and park - a landscaped complex with waterfront dining and shopping options, pool, barbecue areas and fitness facilities, including a jogging track.
The Palm Gateway is one of number of projects in Nakheel's growing residential leasing portfolio, which is set to increase to more than 20,000 units, with other new developments coming to the Palm Jumeirah, Warsan Village, Jebel Ali, Dragon City and Nad Al Sheba.
Nakheel is also building The Palm Tower - a 52-storey luxury hotel and residential complex - at the centre of the Palm Jumeirah, next to Nakheel Mall.
Construction is under way, following the award of a contract worth Dh819 million in October last year.
The Palm Tower comprises 504 luxury residences, on sale now, and a 289-room hotel, to be operated by Starwood Hotels & Resorts under its luxury St Regis brand.
business@khaleejtimes.com 

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