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Sun 4 Oct 2015 02:13 PM

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Nakheel awards $223m contract for construction of The Palm Tower

UAE-based Trojan General Contracting and National Projects & Construction to build the 52-storey luxury hotel and residences

Nakheel awards $223m contract for construction of The Palm Tower

Dubai developer Nakheel has awarded a $223 million contract for the construction of The Palm Tower, its 52-storey, five star hotel and residential complex on the Palm Jumeirah.

UAE-based Trojan General Contracting and National Projects & Construction LLC have been appointed to jointly build the 240 metre tower, the government-owned developer has announced.

The Palm Tower comprises 504 luxury residences and a five star, 290-room hotel with 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 $460,000 (AED1.7 million), comprise fully-furnished studios and one, two and three bedroom apartments.

Residents and guests at The Palm Tower will enjoy direct access to Nakheel Mall, a large-scale retail projects currently under construction, which will have 300 shops, cinemas, a medical centre, a fitness centre and a roof terrace.

The Palm Tower is one of 10 hotels being constructed by Nakheel as part of its expansion into the hospitality sector. Others are located at Deira Islands, Ibn Battuta Mall and Dragon City.

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