A new luxury beachfront residential project on the Palm is in development, according to developer Palma Holding, Zawya reported.
A mix of one, two and three-bedroom apartments and luxury penthouses will be constructed to make the most of the archipelago's beach front project.
The company announced two new signature real estate projects worth AED3.7 billion that will be launched in Dubai in 2015.
The second project is in partnership with the German Association in Dubai to develop the German International School in Dubai in Academic City.
"Our focus is on developing projects in unique and prime locations across Dubai, namely Dubai Marina, The Palm Jumeirah and Downtown Burj Khalifa, with a priority on waterfront orientation. With location being the most important factor in real estate valuations, Palma Holding pays a great deal of importance to the location of its projects. We also develop projects with innovative concepts, developed uniquely to each project. This differentiation is evident in our real estate offering so far," said Kareem Derbas, CEO and Co-Founding Partner, Palma Holding.