FINANCIAL NEWS

Dubai’s Nakheel inks USD11.70m Palm deals

20 Apr 2012

(MENAFN) Nakheel’s acting CEO, Sanjay Manchanda, said that the real estate developer inked two contracts worth USD11.70 million to establish new Palm Jumeirah projects, reported Emirates 24/7.

Manchanda added that the first contract, worth USD6.80 million, was awarded to RSP Architects, for the design of the 1.7 million sq ft Palm Mall, which will be launched in 2014.

He also said that another USD4.89 million contract for infrastructure work on Frond N of Palm Jumeirah was awarded to Al Marwan Contracting.

It is worth noting that work on Frond N will include roads network, traffic signage, street lighting, storm water drainage, vacuum sewerage, irrigation systems, potable water systems, electrical networks, telecommunication and gas networks.

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