Nakheel has awarded a contract to build the Dh1.4 billion The Palm Gateway triple tower and beach complex above the Palm Gateway monorail station to a joint venture between Ssangyong Engineering & Construction (Ssangyong E&C) and China State Construction Engineering Corporation (CSCEC).
The developer said that work on the project is set to begin by the end of March, and that it will take two years to build, completing in the first quarter of 2018. The project will contain 1,265 apartments in three high-rise buildings. Apartments will range in size from one to three bedrooms and will be retained by Nakheel to generate leasehold income.
The entire complex will have a gross floor area of 5.5 million square feet. The tallest tower will be the 285 metre, 59-storey Tubular Tower. There will also be two, 205-metre, 48-floor towers – Central Tower and Beach Tower.
They will sit on top of the existing monorail station building, which already has 14 levels of parking, but 32 beach-facing apartments and 16 duplexes will be added to this, alongside retail, dining and health and fitness units.
The contract win for South Korean contractor Ssangyong E&C is the third major Dubai project it has picked in the past few weeks.