{"id":54665,"date":"2017-05-14T02:04:05","date_gmt":"2017-05-13T19:04:05","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=54665"},"modified":"2017-05-14T00:29:53","modified_gmt":"2017-05-13T17:29:53","slug":"nakheel-awards-dh1-5bn-contract-for-the-palm-gateway-development","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nakheel-awards-dh1-5bn-contract-for-the-palm-gateway-development\/","title":{"rendered":"Nakheel awards Dh1.5bn contract for The Palm Gateway development"},"content":{"rendered":"


\nNakheel said on Saturday it selected Indian engineering firm Shapoorji Pallonji Group to execute a Dh1.5 billion construction contract for a residential retail complex on Palm Jumeirah. The deal is part of Dh12bn worth of contracts expected from the developer this year.Shapoorji Pallonji Mideast, a part of the Mumbai-based Shapoorji Pallonji Group, is set to start this quarter construction on the three-tower The Palm Gateway development, which will take two and a half years to complete.
\n“The Palm Gateway contract is among Dh12 billion worth of construction contracts to be awarded by Nakheel this year,” Ali Rashid Lootah, the Nakheel chairman, said in a statement.The Palm Gateway includes 1,265 luxury apartments and duplexes across three towers with the tallest being 285 metres. It will be constructed on top of the existing Palm Monorail terminal, which includes 14 levels of parking spaces. The Palm Monorail would remain operational during the construction of the project. The one to three-bedroom apartments at the complex will be available on lease. The complex will feature 8,600 square feet of retail space.
\nWith The Palm Gateway, Nakheel’s residential leasing portfolio will double to about 35,000 units. The other new projects are coming up in Palm Jumeirah, Warsan Village, Jebel Ali Village, Dragon City, Ibn Battuta Mall and Nad Al Sheba.Dubai’s current supply of 477,000 residential units in the first quarter is expected to increase this year, with at least half of the 28,000 units under construction slated for delivery by the end of the year, according to broker JLL. Apartment rents fell 1.1 per cent quarter-on-quarter during the first three months of the year, JLL said.
\nssahoo@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Nakheel awards Dh1.5bn contract for The Palm Gateway development<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nakheel said on Saturday it selected Indian engineering firm Shapoorji Pallonji Group to execute a...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-54665","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-edH","jetpack-related-posts":[{"id":39145,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nakheel-plans-huge-increase-in-contracts-awarded-for-next-year\/","url_meta":{"origin":54665,"position":0},"title":"Nakheel plans 'huge' increase in contracts awarded for next year","date":"December 28, 2016","format":false,"excerpt":"\r Dubai-based developer Nakheel has confirmed that it is planning to award contracts worth at least Dh10 billion next year, a 66 per cent increase from this year's figure.A spokesman for the developer confirmed that main contracts that are anticipated to be awarded within the next 12 months include one\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3437,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/work-to-begin-on-nakheels-dh1-4bn-palm-gateway-tower-project-in-dubai\/","url_meta":{"origin":54665,"position":1},"title":"Work to begin on Nakheel's Dh1.4bn Palm Gateway tower project in Dubai","date":"February 2, 2016","format":false,"excerpt":"\r \r Nakheel has awarded a contract to build the Dh1.4bn 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51727,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nakheel-awards-dh4-2-billion-deira-mall-project-to-unec\/","url_meta":{"origin":54665,"position":2},"title":"Nakheel awards Dh4.2 billion Deira Mall project to Unec","date":"April 13, 2017","format":false,"excerpt":"\r Nakheel has awarded a contract worth Dh4.2 billion to build the new 10.3 million square feet mall at its Deira Islands master development to United Engineering Construction (Unec) as the Dubai-based developer expects an increase in contract awards this year.The company said that compaction work to prepare the four\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":166755,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-real-estate-nakheel-awards-109m-palm-jumeirah-contract-for-38-crown-garden-villas\/","url_meta":{"origin":54665,"position":3},"title":"Dubai real estate: Nakheel awards $109m Palm Jumeirah contract for 38 Crown Garden Villas","date":"December 8, 2025","format":false,"excerpt":"\r Nakheel awards $108.9m contract for 38 Crown Garden Villas on Palm Jumeirah, expanding Dubai waterfront living The post Dubai real estate: Nakheel awards $109m Palm Jumeirah contract for 38 Crown Garden Villas appeared first on Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More.\r \r\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/12\/Nakheel-Dubai-Palm-Crown-Palm-Jumeirah-1000x627-1.jpg?fit=1000%2C627&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":24891,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nakheel-appoints-ae7-as-consultant-on-deira-islands-boulevard\/","url_meta":{"origin":54665,"position":4},"title":"Nakheel appoints AE7 as consultant on Deira Islands Boulevard","date":"September 4, 2016","format":false,"excerpt":"\r Nakheel has appointed consultant AE7 to spearhead construction of a Dh5 billion, 20-tower development at Deira Islands in Dubai.The developer said that the consultant would oversee the design, engineering and construction supervision of its Deira Islands Boulevard project.It includes 16 blocks of flats, two hotels and two serviced apartment\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":155841,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nakheel-awards-204m-for-palm-jebel-ali-infrastructure-works\/","url_meta":{"origin":54665,"position":5},"title":"Nakheel awards $204m for Palm Jebel Ali infrastructure works","date":"June 16, 2025","format":false,"excerpt":"\r Nakheel has awarded $204m in contracts for Palm Jebel Ali infrastructure in Dubai\r \r Source : arabianbusiness.com\r Read more...Nakheel awards 4m for Palm Jebel Ali infrastructure works","rel":"","context":"In "Property 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