Business | Property
Only 35%-40% of Palm construction completed
Nakheel officials will soon chalk off the first phase of the sprawling Palm Jumeirah development, but only 35-40 per cent of overall construction has been completed so far.
- By Robert Ditcham, Staff Reporter
- Published: 00:00 March 1, 2007
Dubai: Nakheel officials will soon chalk off the first phase of the sprawling Palm Jumeirah development, but only 35-40 per cent of overall construction has been completed so far.
Construction is underway on various individual projects, including the four-stop monorail, a massive retail complex, the Golden Mile, the remaining fronds and the island's 32 hotels.
So far 12 hotel have been confirmed by developers, including the Trump International Hotel and Tower and The Atlantis.
Building enabling works on the Trump Tower will start in the next two months, says Nakheel, while work is in progress on the 1,500 room Atlantis located on the crescent of the palm and will be complete by the end of 2008.
The entire crescent will be linked to the main trunk of the island by a six lane sub-sea tunnel as well as and the monorail, which is scheduled to open in December 2008.
Business Editor's choice
-
China breaks West's solar monopoly
Some countries in the world, especially Germany and the United States, have made considerable efforts to invest in developing solar energy cells
-
Burberry store spree will cut profit
Trenchcoat maker forges ahead with investment strategy targeting emerging markets
-
Laws needed to spur region bond markets
UAE Central Bank calls for creation of a centralised Sharia board to facilitate the sale of sukuk
