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09 October, 2018

Dubai's Nakheel awards piling works contract for Palm360 mixed-use project

Main construction tender is likely to be issued in Q1 2019

Rendering of Nakheel's Palm360 mixed-use project in Dubai. Dubai’s Nakheel returns to MIPIM with real estate investment opportunities worth USD2.5 billion

Rendering of Nakheel's Palm360 mixed-use project in Dubai. Dubai’s Nakheel returns to MIPIM with real estate investment opportunities worth USD2.5 billion

Nakheel/Handout via Thomson Reuters Zawya

09 October 2018
Dubai-headquartered master developer Nakheel announced on Tuesday it awarded a piling work contract worth more than 23.7 million UAE dirhams ($6.45 million) for its Palm360 luxury hotel and residential project on the Palm Jumeirah.

The Dubai office of Germany-headquartered BAUER Spezialtiefbau would execute the contract over a four-month period, the developer said in a press statement.

The statement said the process would involve "driving almost 600 piles as far as 54 metres below ground" in preparation for the construction of 260-metre tall project, billed as the tallest structure on Palm Jumeirah.

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It said the construction tender is expected to be released in the first quarter of 2019 with project completion in 2021.

Palm360 comprises a 125-unit Raffles The Palm Dubai Hotel, a 331-unit Raffles Residences Palm360 including 16 penthouses spanning up to 12,000 square feet, and the world's largest sky pool connecting the two towers 170 metres above ground, the statement noted.

(Writing by Anoop Menon) (anoop.menon@refinitiv.com)

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