<a href=Nakheel” height=”157″ src=”https://www.worldconstructionnetwork.com/wp-content/uploads/image-digitalinsightresearch/Archive/AA%20images/Palm.jpg” style=”padding: 10px” title=”Nakheel” width=”250″ />

Real estate developer Nakheel has awarded a AED1.4bn ($380m) contract to a consortium of South Korea’s Ssangyong Engineering & Construction and China State Construction Engineering, to build the three-tower The Palm Gateway residential complex in Dubai.

Located at the entrance of Nakheel’s artificial island Palm Jumeirah, The Palm Gateway will have 1,265 luxury homes, retail, dining, fitness and wellbeing facilities and a beach club.

The luxury homes will include 32 beach-facing apartments and 16 duplex within the existing 14-storey Gateway building, with the rest spread across the three new towers.

Tubular Tower will be the tallest at 285m with 59 floors, the 205m Central Tower will have 48 floors and Beach Tower will be 206m tall with 48 floors. The one, two and three bedroom apartments will be available on lease.

The Palm Gateway will have 4,000 parking spaces on 14 floors, while the 15th floor will be a landscaped podium deck with pool, sports courts and 8,600ft² of retail space having a supermarket and food court.

The structure will include a beach club and park with a range of waterfront dining and shopping options, pool, barbecue areas and fitness facilities, including a jogging track.

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To be constructed on the top of the existing Palm Monorail terminal, the complex is well connected with the Dubai Tram and the Dubai Metro.

Work on the project is expected to begin in the first quarter and be completed within two years.

Ssangyong E&C spokesman said: "It is very meaningful for us to secure a construction project in Dubai again, our first deal in 13 years.

"The city is full of skyscrapers and dozens more will be built in the coming years. We were able to secure mega projects based on our advanced knowhow and expertise in constructing artistically-shaped, high-rise structures over the years."

"We were able to secure mega projects based on our advanced knowhow and expertise in constructing artistically-shaped, high-rise structures over the years."

Ssangyong E&C won the contract after Investment Corporation of Dubai (ICD) acquired a controlling stake in it in January 2015.

In addition to Palm Gateway, Ssangyong will also construct 47-storey Royal Atlantis Hotel and high-rise office buildings in Dubai under various contracts.

Nakheel is also developing 52-storey The Palm Tower, which will house a luxury hotel and residences.

UAE-based Trojan General Contracting and National Projects & Construction was awarded an AED819m contract in October to construction The Palm Tower.

Image: The Palm Gateway will have 1,265 luxury homes. Photo: courtesy of Nakheel PJSC.