Another Luxury Residential Project Underway In Palm Jumeirah

Nakheel announced a new luxury project in Palm Jumeirah, Dubai. It will be Nakheel’s first major development since completing a restructuring process.

As per news, the construction work on Palma Residences was expected to be completed within 18 months and 30 units had already been sold at a value of almost Dh 223 million. Nakheel, which is also in planning phase to issue the second tranche of its sukuk, has appointed Dubai Civil Engineering as the main contractor of the project.

According to resource, the prices on the Palm Jumeirah are not going down. Nakheel is selling plots of land at prices that are higher than pre-crisis levels. Prices of properties in Palma Residences range from Dh 6 million to Dh 8 million.