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FINANCIAL NEWS
Dubai’s Nakheel launches the Azure Residences project
25 Feb 2013
(MENAFN) Dubai’s developer Nakheel unveiled plans to construct a new 170 apartments building called the Azure Residences on its flagship development Palm Jumeirah, Arabian Business reported.
Work on the 10-storey building, located on the eastern shoreline at the base of the Palm’s trunk, is expected to begin mid-2013 and slated for completion within two years, Nakheel said in a statement.
It will consist of 140 one-bedroom apartments and 30 two-bedroom units, in addition to a rooftop gym, 266 car parking spaces and mooring facilities for water taxis.
Nakheel was heavily hit by the 2008 Dubai property collapse, and has been slowly recovering as it was brought under direct government control as part of the restructuring of its parent Dubai World.
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BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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