Dubai - Mubasher: Nakheel has signed a construction contract worth nearly AED 1.5 billion for The Palm Gateway, a three-tower residential, retail and beach club complex at the foot of the world-famous Palm Jumeirah.
Nakheel has appointed Shapoorji Pallonji Mideast to carry out the work, which will begin in Q2-17 and take two and a half years to complete, according to a press release.
“The Palm Gateway contract is among AED 12 billion worth of construction contracts to be awarded by Nakheel this year,” said the chairman of Nakheel, Ali Rashid Lootah.
The Palm Gateway includes 1,265 luxury apartments 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.
Units will range from one to three bedrooms and will be available on lease, according to the company’s statement.
