New apartment buildings to rise on Palm Jumeirah

Dubai: Nakheel has "secured financing" to build 192 studio apartments on the Palm Jumeirah, the Dubai-based real estate developer said on Sunday. 

Construction on the development, called Palm Views, is scheduled to begin later this year and will come online by the end of the first quarter 2014, Nakheel's chairman told reporters. 

"Palm Views will appeal to young, vibrant individuals and couples who want a prestigious address at a price they can afford," said Ali Rashid Lootah, adding that Nakheel's first-quarter profit will be better than that of the year-earlier period. 

Nakheel says the project, located at the Palm Jumeirah's east and west marinas is spread over two buildings, each containing 96 residential units, a fitness club, a selection of eateries and shops, and ground-level parking.