Nakheel's 'Pointe' could be priciest area

The project is set for the first quarter of 2016 and construction has already crossed the 30% mark.

The Pointe, a project located on the Palm Jumeirah that could well become Dubai’s priciest waterfront-based dining and entertainment strip, according to Gulf News.

The project is set for the first quarter of 2016, according to Nakheel, its developer. Construction has already crossed the 30% mark while on the leasing side, more than 100 outlets out of the 145 available have been taken up.

The 1.2km project, which is located right on the tip of the island and across the bay from the Atlantis, is expected to cost AED800 million.

The Pointe could attract between 40,000 to 50,000 visitors a day in its first full year of operations, according to a senior Nakheel official. Of this, 60% could comprise tourists staying at hotels on the Palm.

“Anything on the Palm comes attached with a premium — the same will be the case for The Pointe,” said Omar Khoory, director of retail at Nakheel. “With all the tourist traffic we are projecting to this destination, we could not limit the Pointe to being an all-exclusive destination.”

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