Shapoorji Pallonji Mideast, part of the Shapoorji Pallonji Group, has secured a contract worth AED1.5bn ($408m) from the UAE-based property developer Nakheel to build The Palm Gateway triple tower and beach complex on Dubai’s Palm Jumeirah.
Covering a gross floor area of 5.5m sq ft, the development features 1,265 luxury apartments across three high-rise buildings - the tallest topping 285m - to be built on top of the existing Palm Monorail terminal, which includes 14 levels of parking spaces.
The housing units range from one to three bedrooms and will be available on lease. The waterfront living and leisure complex will also have retail, dining and health and fitness facilities, including parks, pools, and sports courts.
Furthermore, The Palm Gateway will have its own beach club and park - a shaded, landscaped complex with a range of waterfront dining and shopping options, pool, barbecue areas and fitness facilities, including a jogging track.
Construction on the project will commence in the second quarter of 2017 and take two and a half years to complete.
Nakheel chairman Ali Rashid Lootah said: “The Palm Gateway contract is among AED12 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.”