Nakheel awards $20m Palm Jumeirah complex deal
Dubai, August 28, 2014
Dubai developer Nakheel has awarded a Dh75 million ($20.3 million) contract to build a new residential complex with 130 apartments on Dubai’s Palm Jumeirah island.
The developer has awarded the deal to the UAE-based Trojan General Contracting to construct the 12-storey building, which will be located on Palm Jumeirah’s central trunk, adjacent to Al Ittihad Park, and directly linked to the upcoming Nakheel Mall via a pedestrian walkway, said the company in a statement.
The new complex – the latest in Nakheel’s fast-growing collection of leasing projects – will contain one, two- and three-bedroom apartments, a gym, swimming pool and three levels of basement parking.
The construction is expected to begin before the end of the year, with completion anticipated for mid-2016.
Palm Jumeirah, Nakheel’s world-famous master community, is currently home to more than 30,000 residents and 10 luxury resorts, with several new Nakheel residential, retail and entertainment projects – including Nakheel Mall, The Pointe, Palma Residences and Palm Views – under construction.
“Expansion of our leasing, hospitality and retail offerings is key to our long term business strategy. This new residential leasing complex on Palm Jumeirah will bring another 130 units to our existing leasing portfolio of almost 17,000 homes, which enjoy almost 100 per cent occupancy,” said a Nakheel spokesperson. - TradeArabia News Service