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FINANCIAL NEWS
Nakheel awards The Palm USD223m construction contract
05 Oct 2015
(MENAFN) Dubai developer Nakheel has awarded a USD223 million contract for the construction of The Palm Tower, its 52-storey, five star hotel and residential complex on the Palm Jumeirah.
UAE-based Trojan General Contracting and National Projects & Construction LLC have been appointed to jointly build the 240 meter tower, the government-owned developer has announced.
The Palm Tower comprises 504 luxury residences and a five star, 290-room hotel with a rooftop infinity pool, restaurant and viewing deck. The hotel will occupy the first 18 floors of the building.
The Palm Tower residences, on sale with prices starting from USD460,000 thousand, comprise fully-furnished studios and one, two and three bedroom apartments.
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