Construction

Nakheel begins 192 unit Palm Jumeirah project

Construction on studio apartment blocks will begin by the end of the year, developer says

Nakheel, the Dubai based property developer, announced on Sunday that it would be building a new waterside residential and leisure project for the Palm Jumeirah.

A collection of 192 ‘pied-à-terre’ style residential units and retail, dining and fitness facilities, the Palm Views is spread over two buildings, each containing 96 residential units, a high-end fitness club and a selection of eateries and shops.

Construction is scheduled to begin by the end of 2012, with a completion date of Q1 2014.

“Palm Views gives more people the chance to experience life at this world-famous location. 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, chairman of Nakheel.

The 500sq feet studio apartments will be on sale for $272,257 and will come with a fully equipped kitchen.

The buildings are designed to maximise energy efficiency and cost-effectiveness, with individual air conditioning systems that residents pay for directly as part of their utility bills, meaning lower monthly running costs, Lootah explained.

The project is located on Palm Jumeirah’s East and West Marinas and is located close to the recently announced Palm Mall.

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