Nakheel awards Dh1.4 billion The Palm Gateway contract
Dubai developer Nakheel has awarded a construction contract worth nearly Dh1.4 billion for The Palm Gateway, a new, three-tower residential, retail and beach club complex at the foot of its flagship master development, Palm Jumeirah.
Nakheel has appointed Ssangyong Engineering and Construction Co Ltd (Dubai Branch) and China State Construction Engineering Corporation (Middle East) LLC to carry out the work, which is expected to begin in Q1 2016 and take just 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.
The waterfront living and leisure complex, set in extensively landscaped grounds, will also have an abundance of retail, dining and health and fitness facilities, including parks, pools, and sports courts.
Located at the entrance to Palm Jumeirah, The Palm Gateway will boast convenient transport links to other parts of the island and to the rest of Dubai.
The Palm Monorail, which will remain operational throughout the construction of the project, is already connected to the Dubai Tram and the Dubai Metro, giving residents and visitors easy access to alternatives to the car.
With panoramic views of Palm Jumeirah, the Arabian Gulf and some of Dubai's most famous landmarks, The Palm Gateway will also have its own beach club and park - a shaded, landscaped complex with a diverse range of 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 Palm Jumeirah, Warsan Village, Jebel Ali, Dragon City and Nad Al Sheba.
Follow Emirates 24|7 on Google News.