Nakheel has launched The Palm Tower Residences – 504 luxury units housed in the company’s new, 50-storey landmark development on Palm Jumeirah.
The Palm Tower – part of the new Nakheel Mall and Hotel complex at the heart of the world-famous island – includes a mixture of serviced, fully-furnished studios and one, two and three bedroom apartments with uninterrupted, panoramic views of Palm Jumeirah, the Arabian Gulf and Dubai’s skyline. Prices start from AED1.5mn ($408,000).
Due for completion in 2016, The Palm Tower also includes a five star, 290-room hotel with an array of dining and leisure facilities, including a rooftop restaurant, viewing tower and infinity pool – all of which are available to people living in the Palm Tower Residences. The hotel rooms will occupy the first 18 floors of the tower.
There is also direct access to The Palm Monorail and Nakheel Mall, a new retail, dining and entertainment destination for Dubai.
Nakheel Mall, on which construction will start in Q2 this year, will have 300 shops including department stores and a supermarket, as well as cinemas, a medical centre, a fitness centre and dozens of cafes and restaurants. There will also be a roof terrace with 12 fine dining outlets and unrivalled island, sea and skyline views.
The Palm Tower will also offer direct access – via a bridge and walkways – to Palm Jumeirah’s beach clubs, including Nakheel’s Club Vista Mare and Palm West Beach projects.
Nakheel chairman Ali Rashid Lootah said: “The Palm Tower combines luxury living with comfort and convenience, and brings yet more amenities to Palm Jumeirah. This is the perfect investment opportunity for people who want to be part of the vibrant community and diverse lifestyle that has turned Palm Jumeirah into one of the world’s most sought after places to live and visit.”
The Palm Tower will be Nakheel’s flagship hotel, under the company’s expansion into the hospitality and leisure sector. Other locations for Nakheel hotels are Deira Islands, Ibn Battuta, International City and Dragon Mart.
Nakheel plans to build nine hotels over the next three to five years, with the first – at Dragon Mart – opening in 2014.