Leading developer Nakheel has awarded a contract worth Dh819 million ($223 million) for the construction of The Palm Tower, its 52-storey, five star hotel and residential complex on Dubai’s Palm Jumeirah.
UAE-based Trojan General Contracting and National Projects & Construction have been signed up to build the luxury landmark, which will tower almost 240m above Dubai’s world-famous Palm Jumeirah island, said the company in a statement.
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 Dh1.7 million ($462,724), boasts of fully-furnished studios and one-, two- and three-bedroom apartments with panoramic views of Palm Jumeirah, the Arabian Gulf and the Dubai skyline, the statement added. More info