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.
Snapshot of current asking Sale & Rental Prices in The Palm Tower
The below tables provide you a snapshot summary of current asking sale and rental prices in The Palm Tower. This data is a cumulative average of listed properties for this project and is updated regularly.
|Average Asking Sale Price in The Palm Tower|
|Property Type||Average Price||Average Price PSF|
|Studio Apartment||AED 1,650,000||AED 3,293|
|1 Bedroom Apartment||AED 2,970,000||AED 2,389|
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.