Dubai: Nakheel is doubling down on its tower programme at the Palm. Construction of the twin-tower Palm 360, announced last year, and the Palm Beach Residences, revealed on the opening day of Cityscape Global, will commence in the second quarter of 2018.
The sales launch for both should start “very soon”, a top official added.
In addition, the master-developer is already well underway with The Palm Tower, scheduled for a completion by mid-2019.
“I don’t see the Palm Beach Residences coming too soon into the market — investors always want to be spoilt for choice at any given time,” said Aqil Kazim, Chief Commercial Officer. “That’s what we intend to provide.
“Palm Beach Residences have enough standout features to be an investor attraction; we have given a lot of thought to the vertical architecture. There are the 360-degree views, the hanging gardens off the balconies, and the health and wellness aspects.”
Standing tall at 180 metres, the Palm Beach Residences will feature 250 units. It is located on the eastern side of the trunk.
When the Palm 360 was announced, it was felt that it would be the final Nakheel-built high-rise on the island. Palm 360 sure tilts a few scales in terms of how it wanted to define super-premium island living, with the penthouses covering a substantial 12,000 square feet.
Nakheel made quite the statement on the opening day, all Dh3.2 billion worth of it. Apart from the Palm Beach Residences, it announced a slew of projects, including retail, across some of its communities, including those that are already quite developed on the residential side, such as Discovery Gardens.
With all of the add-ons — such as a pool of Olympic-size proportions at Jumeirah Island — Nakheel’s intent is to make them a compelling option for investors and end user buyers.
“We have the steady flow of buyers coming into our projects … that’s a good reason to keep adding whatever additional value we can in those communities.”