Nakheel will float a construction tender for its Palm 360 twin-tower development in Q3 2018.

The Dubai-based developer said it would release a tender for construction of Palm 360, a mixed-use project on Dubai’s Palm Jumeirah, later this year. 

The high-end hotel and residential project is due for completion in 2021, the developer said in a statement. 

READ: Accor partners with Nakheel for Dubai's 260m-high Palm 360

Palm 360 sits on 4.6ha of landscaped ground on the western side of Dubai’s iconic Palm Jumeirah man-made island.

It will be the tallest building on the island, standing 260m tall, and will feature the world’s largest sky pool, which will stretch across both towers 170m above the ground.

The project includes 125 Raffles hotel rooms and 331 Raffles-branded residences, including 16 penthouses. 

Meanwhile, Nakheel has urged piling and enabling contractors to submit ground perpetration proposals for the Palm 360, following the tender it issued for groundwork in March 2018.

Nakheel said it was already in the process of assessing groundwork bids for Palm 360. 

Earlier this month, the master developer reported a profit of $422m (AED1.55bn) for Q1 2018, a 5% hike compared to corresponding 2017 figures. 

Nakheel credited the profit growth to the handover of more than 200 land and built units to customers during the quarter.