Dubai – Mubasher: Nakheel Properties on Tuesday announced that it has awarded an AED 23.7 million (EUR 5.6 million) contract to Germany-based Bauer Spezialtiefbau GMBH.
Bauer Spezialtiefbau GMBH will handle piling work at Nakheel’s iconic, 260-metre-tall PALM360 twin-tower hotel, the Dubai-based master developer said.
PALM360 is a luxury hotel and residential property located in Palm Jumeirah, according to the company’s statement.
The agreement took place on the sideline of Expo Real 2018, running in Munich, Germany.
Expo Real, which covers an area of 64,000 square meters, is Europe's largest real estate and investment trade fair.
Hosting over 2,000 exhibitors and 41,775 participants, the three-day event kicked off on 8 October and it would end on 10 October.
During the event, Nakheel offered land plots for commercial, residential or hotel development at prime locations such as the world-famous Palm Jumeirah and the up-and-coming Deira Islands including PALM360 project.
PALM360 comprises the Raffles The Palm Dubai Hotel and Raffles Residences PALM360. The project will also boast the world’s largest sky pool, connecting the two towers 170 meters above ground, as well as a host of dining, leisure and wellbeing facilities.
The construction tender is expected to be started in the first quarter of 2019, and it is set to be completed in 2021.
