The Palm Tower

The Palm Tower is a part of the Nakheel Mall & Hotel complex being built on the top-end of the trunk of Palm Jumeirah. The tower will rise 50 storeys and include 290 hotel rooms to be managed by the Shangri-La Hotels & Resorts brand. Palm Tower will also contain 504 fully furnished and serviced apartments, a majority of which were sold by Nakheel during the launch held in 2013. Palm Tower will rise above the Nakheel Mall which will be the major retail destination on the Palm Jumeirah.

Property Types Available: Hotels, Hotel Serviced Apartments
Location: Palm Jumeirah
Status: Under Construction
Year Launched: 2014
Estimated Completion Date: June 2017
Developer: Nakheel
Hotel Operator: Shangri-La Hotels and Resorts
Title Type: Freehold
Quality Classification: Luxury
Height Classification: High-rise
Life Cycle: Under Construction
Special Classification: Water-front Community
Floors: 50
Total Under-Construction Hotel Apartments: 504
No. of Under-Construction Hotel Rooms: 290

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About The Palm Tower

The Palm Tower is a part of the Nakheel Mall & Hotel complex being built on the top-end of the trunk of Palm Jumeirah.

The tower will consist of 290 hotel rooms which will occupy the first 18 floors. From floors 19 to 50, there will be 504 fully furnished and serviced apartments ranging from studios to three beds. Launch prices were AED 3,500 - 3,800 psf. According to our sources, Nakheel managed to sell about 25% of their stock within 4 weeks of launch.

Other features of the Palm Tower will be dining and leisure facilities including a rooftop restaurant, viewing tower and infinity pool all of which will be available to residents of the tower.

The Nakheel mall on the Palm will consist of 300 shops including a cinema, department store, supermarket, fitness center, medical center and dozens of cafes and restaurants.

The Palm Tower will also have direct access - via a bridge and walkways - to Palm Jumeirah's beach club.

On the 9th of September, 2014: Nakheel annouced that they have signed an agreement with the Shangri-La Hotels and Resorts to operate the Palm Tower.

August 2015 Update: Read our Special Report on Palm Jumeirah

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Project Completion Status (as per DLD): 23% (as of Oct 8, 2017)

Dubai Land Classification & Escrow Account Details:

Land Number: 2311

Project Number: 1603

Real Estate Developer: THE PALM - JUMEIRAH CO.

Trust Account Number: 19000014911

Account Trustee Name: MASHREQ BANK PSC

RERA Permit No : 15128

Brokerage Firm: Taktical Realty Group LLC

Positives of The Palm Tower

Negatives of The Palm Tower

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