Palm Jumeirah sells 40 out of 49 hotel sites

DUBAI The Palm project has sold 40 out of 49 luxury hotel project sites at Palm Jumeirah, the man-made Island project off Jumeirah.

By Babu Das Augustine

Published: Wed 19 Feb 2003, 3:04 AM

Last updated: Wed 1 Apr 2015, 8:24 PM

Saif Sultan Al Shamsi managing director - commercial, The Palm said: "We have received firm commitments from 40 developers and negotiations are on for the remaining nine plots for luxury hotels and resorts on The Palm Jumeirah."

The Palm Jumeirah project has nine luxury hotels located on the main trunk of the Island, with the remaining 40 hotels located on the waterfront. The reclamation and sit preparation work is expected to be complete by the third quarter of this year. "We will be ready to hand over the sites to developers by the end of third quarter of this year and expect the to begin construction immediately. The whole idea is to complete the entire construction process at one go at the island and complete it by the third quarter of 2005, when the Palm Jumeirah is set to open," he added.

The Palm Project which includes The Palm Jumeirah and Palm Jebel Ali, together will add more than 11,000 luxury hotel rooms to Dubai's current 23,000 plus hotel rooms. The Palm Jebel Ali project also will have close to 40 four and five star hotels. "We are focusing on the tourism sector, in fact a number of developments in Dubai including the expansion of the Dubai international airport is focused on the fast growing tourism sector and in the future we expect the Palm itself to become a major tourist attraction in the region," he said.

Speaking about the Palm Jebel Ali project, he said the reclamation work at the project is moving ahead on schedule with about seven per cent of the work already complete. The two Palm projects together will add 120 km to Dubai's shoreline and create a large number of residential, recreational and entertainment facilities.

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