A joint venture between two UAE-based contractors, Trojan General Contracting and National Projects & Construction, have won the AED 819 million (US$ 223 million) contract to build the Palm Tower on the Palm Jumeirah artificial archipelago in Dubai, UAE. The client for the 52-storey, five star hotel and residential complex is developer Nakheel.
The Palm Tower will comprise 504 luxury residences. Prices for these start at AED 1.7 million (US$ 460,000) for a studio apartment. Meanwhile the five star, 290-room hotel will have a variety of dining and leisure facilities, including a rooftop infinity pool, restaurant and viewing deck. The hotel will occupy the first 18 floors of the building.
The building development will also offer direct access to Nakheel Mall, currently under construction at the centre of Palm Jumeirah. This will have 300 shops, cinemas, a medical centre, a fitness centre and a roof terrace.
The Palm Tower is one of ten hotels being constructed by Nakheel as part of its expansion into the hospitality sector. Others are located at the Deira Islands, Ibn Battuta Mall and Dragon City developments, all in Dubai.