Nakheel awards Dh1.5b Palm Gateway contract

Dubai - Shapoorji Pallonji Mideast to begin work in Q2 2017

Dubai master developer Nakheel has signed a construction contract worth nearly Dh1.5 billion for The Palm Gateway, a new, three-tower residential, retail and beach club complex at the foot of Palm Jumeirah.
Nakheel has appointed Shapoorji Pallonji Mideast to carry out the work, which will begin in the second quarter of 2017 and will take two-and-a-half years to complete.
Nakheel chairman Ali Rashid Lootah said: "The Palm Gateway contract is among Dh12 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 the over 45 years. M.D. Saini, its managing director and CEO, said: "We are honoured and excited to have been selected to deliver this prestigious project."
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 Palm Monorail terminal, which includes 14 levels of parking spaces. Units range from one to three bedrooms and will be available on lease.
- business@khaleejtimes.com