Dubai’s Nakheel awards $408m contract for The Palm Gateway
Landmark triple-tower project, with 1,265 apartments and beach complex, to be built by Shapoorji Pallonji Mideast
The Dubai developer Nakheel says it has signed a construction contract worth nearly AED1.5 billion ($408m) for The Palm Gateway, a three-tower residential, retail and beach club complex at the foot of the Palm Jumeirah.
Nakheel has appointed Shapoorji Pallonji Mideast to carry out the work, which will begin in Q2 2017 and take two and a half years to complete.
Nakheel Chairman Ali Rashid Lootah said: “The Palm Gateway contract is among AED12 billion worth of construction contracts to be awarded by Nakheel this year. We look forward to delivering another iconic, landmark project at the entrance to Palm Jumeirah through this first-time collaboration with Shapoorji Pallonji.”
Shapoorji Pallonji Mideast, part of the Shapoorji Pallonji Group, has been active in the region for over 45 years.
The Palm Gateway includes 1,265 luxury apartments across three high-rise buildings – the tallest topping 285 metres – to be constructed on top of the existing Palm Monorail terminal, which includes 14 levels of parking spaces. Units range from one to three bedrooms and will be available on lease.
The waterfront living and leisure complex, set in extensively-landscaped grounds, will also have an abundance of retail, dining and health and fitness facilities, including parks, pools, and sports courts.
The Palm Gateway will boast convenient transport links to other parts of the island and to the rest of Dubai. The Palm Monorail, which will remain operational throughout the construction of the project, is already connected to the Dubai Tram and the Dubai Metro, giving residents and visitors easy access to alternatives to the car.
