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 Nakheel has awarded a contract worth Dh819 million for the construction of The Palm Tower, its 52-storey, five star hotel and residential complex on Dubai’s Palm Jumeirah, the developer announced today.

Nakheel has appointed UAE-based Trojan General Contracting and National Projects & Construction LLC to jointly build the landmark, which will stand almost 240 metres above Dubai’s world-famous Palm Jumeirah island.   

The Palm Tower comprises 504 luxury residences and a five star, 290-room hotel, including a rooftop infinity pool, restaurant and viewing deck.

The hotel will occupy the first 18 floors of the building.

The Palm Tower residences, on sale with prices starting from Dh1.7 million, comprise fully-furnished studios and one, two and three-bedroom apartments.

Residents and guests at The Palm Tower will enjoy direct access to Nakheel Mall, currently under construction at the heart of Palm Jumeirah.

The mall, one of 10 new, large-scale retail projects from Nakheel, will have 300 shops, cinemas, a medical centre, a fitness centre and a roof terrace offering fine dining outlets.

The Palm Tower will also offer direct access – via a bridge and walkways – to Palm Jumeirah’s beach clubs, including Nakheel’s Club Vista Mare and Palm Promenade West Beach projects.

The Palm Tower is one of 10 hotels being constructed by Nakheel as part of its expansion into the hospitality sector.  Others are located at Deira Islands, Ibn Battuta Mall and Dragon City.