Dubai master developer Nakheel has appointed a contractor to bring to life The Palm Tower, its new luxury project in Dubai, which will rise almost 240 meters above the man-made Dubai island Palm Jumeirah.
The contract worth USD 223 million was awarded to local construction companies Trojan General Contracting and National Projects & Construction LLC, which will jointly build the landmark.
The Palm Tower will include 504 luxury residences, as well as a five-star 290 room hotel together with the infinity pool, a restaurant and an observation deck with views of the Dubai skyline on top of the building. The hotel takes the first eighteen stores of the tower's 52 floors.
Additionally, The Palm Tower complex will be connected by bridges and covered walkways to the beach clubs Nakheel's Club Vista Mare and Palm Promenade West Beach.
Residential property in The Palm Tower has been put up for sale at a price starting from USD 460,000 per unit. Buyers will be offered a choice of apartments from studios to three-bedroom units.
All residents and guests at The Palm Tower hotel and residencies will have direct access to the Nakheel Mall, a new large shopping center under construction at the heart of the Palm. Nakheel Mall shopping and entertainment center is one of 10 major commercial and retail real estate projects being implemented currently in Dubai by Nakheel. It will have 300 shops, cinemas, cafes, a medical and a fitness center, and also a restaurant with open roof terrace.