Dubai’s Palm Tower Getting Ready to Open

Dubai’s Palm Tower Getting Ready to Open

The luxury tower, which rises 240 metres tall, will include a 289-room St. Regis hotel and 432 residences

Work is progressing at the Dhs1.2bn Palm Tower, the 52-story tower that is set to open this year in Dubai’s Palm Jumeirah.

The luxury tower, which rises 240 metres tall, will include a 289-room St. Regis hotel, 432 residences, 4 restaurants, as well as 3 swimming pools including this 1 on the 50th floor.

The hotel occupies the 1st 18 floors, with fully-furnished studios and 1, 2 and 3 bedroom apartments on the upper floors.

The freehold residences are priced from Dhs1.7m onwards for a studio, confirmed Aqil Kazim, chief commercial officer at Nakheel, with 7 year payment plans available.

The 3 bedroom units, priced upwards of Dhs10m, are all sold out now, he added.

The residences will only be handed over to the owners in Y 2020.

Meanwhile fit out of the St. Regis has begun and the hotel will open this year.

Despite fears of hotel oversupply in the market, Mr. Kazim said the project was executed based on the developer’s business plan.

With the views it offers along with its location, “we want to ensure that it has a clear competitive advantage and it ticks all the right boxes”, he added.

Construction is also underway at the rooftop infinity swimming pool – which, at 210 metres will be one of the highest pools in Dubai. Covering 775 square metres, it borders all the 4 sides of the building.

Above the pool will be a podium featuring a specialty restaurant and clubhouse on the 51st floor, and a public viewing deck on the 52nd floor, which will be 240 metres high.

Construction of both the elements will begin soon.

Once open, the viewing deck will offer 360 degree views of Dubai, along with views of the Palm. Open to the public for a fee the deck will be directly accessible from the neighboring Nakheel Mall, said Mr. Kazim.

The concept for the high-end restaurant has been finalized and it will offer something “new”, according to the developer. Other details will be disclosed shortly.

Currently, around 850 construction workers are on site at The Palm Tower, with numbers anticipated to rise to more than 1,500 when internal fit out starts in the next few weeks.

The under-construction Nakheel Mall, which will feature 350 shops, restaurants and attractions is also set to open this year, Mr. Kazim said.

The Mall, initially slated for completion in 2017, will offer 1.1-M sqf of leasing area, and so far 70% is leased out.

Spread across 5 floors, it will include a 60,000 sqf, 15-theatre Vox Cinemas complex with other confirmed retailers including Waitrose, Adidas, Breitling, French Connection and Montblanc.

The Mall will also feature 2 fountains, 2 waterfalls plunging 65ft into the Mall, a fine dining roof plaza and its own Palm Monorail station.

By Aarti Nagraj

Paul Ebeling, Editor

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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