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52-storey Palm Tower to be built on Dubai’s Palm Jumeirah

04.10.2015
52-storey Palm Tower to be built on Dubai’s Palm Jumeirah
Nakheel has awarded a contract to build The Palm Tower, a new island dominant on the manmade Palm Jumeirah archipelago in Dubai.

Dubai master developer Nakheel has appointed a contractor to bring to life The Palm Tower, its new luxury project in Dubai, which will rise almost 240 meters above the man-made Dubai island Palm Jumeirah.

The contract worth USD 223 million was awarded to local construction companies Trojan General Contracting and National Projects & Construction LLC, which will jointly build the landmark.

The Palm Tower will include 504 luxury residences, as well as a five-star 290 room hotel together with the infinity pool, a restaurant and an observation deck with views of the Dubai skyline on top of the building. The hotel takes the first eighteen stores of the tower's 52 floors.

Additionally, The Palm Tower complex will be connected by bridges and covered walkways to the beach clubs Nakheel's Club Vista Mare and Palm Promenade West Beach.

Residential property in The Palm Tower has been put up for sale at a price starting from USD 460,000 per unit. Buyers will be offered a choice of apartments from studios to three-bedroom units.

All residents and guests at The Palm Tower hotel and residencies will have direct access to the Nakheel Mall, a new large shopping center under construction at the heart of the Palm. Nakheel Mall shopping and entertainment center is one of 10 major commercial and retail real estate projects being implemented currently in Dubai by Nakheel. It will have 300 shops, cinemas, cafes, a medical and a fitness center, and also a restaurant with open roof terrace.

Latest Availability
RENT
125,000 / year
Ref.No: OF1209
Office
1,655 ft2
76 AED/ft2
RENT
58,500 / year
Ref.No: OF662
Office
1,300 ft2
45 AED/ft2
SALE
6,800,000
Ref.No: AP1113
3BR Apt
3,003 ft2
2,264 AED/ft2
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Lease process (Rent out)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.
Real estate search.

Up to 5 days

Real estate search.

Selection of optimal options.

Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Property Selection

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Customer charges:
  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration
Additional services:

Property management

Sales Process
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

None

the management process
Contract of the owner and agency

1 hour

Contract of the owner and agency
Rendering of management services

1 year

Rendering of management services
Reporting

1 day

Reporting
Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Selection of optimal investment options

From 3 days

Selection of optimal investment options
Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Expenses of the investor:
  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration
Additional services:

Property management