DUBAI
Dubai master developer Nakheel on Saturday announced that it has signed a construction contract worth nearly Dh1.5 billion for The Palm Gateway, a new, three-tower residential, retail and beach club complex at the foot of the world-famous Palm Jumeirah.
Nakheel has appointed Shapoorji Pallonji Mideast LLC to carry out the work, which will begin in the second quarter of 2017 and take two and a half years to complete, Nakheel said.
“The Palm Gateway contract is among Dh12 billion worth of construction contracts to be awarded by Nakheel this year. We look forward to delivering another iconic, landmark project at the entrance to Palm Jumeirah through this first-time collaboration with Shapoorji Pallonji,” said Nakheel Chairman Ali Rashid Lootah in an emailed press release.
Shapoorji Pallonji Mideast LLC, part of the Shapoorji Pallonji Group, has been active in the region for the over 45 years, delivering a range of prestigious projects. M.D. Saini, Managing Director and CEO, Shapoorji Pallonji International FZE, said: “We are honoured and excited to have been selected to deliver this prestigious project.”
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 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.
