Nakheel Properties, the Dubai-based leading property developer, announced that it has finished 80% of the concrete works on its Palm Tower project on Palm Jumeirah, with 42 of its floors now complete.
The Palm Tower project will comprise 52 stories that with a rooftop infinity pool, a public observation deck on the 52nd floor and a restaurant complex on the 51st floor.
In an earlier announcement, Nakheel said that the tower will consist of a 289-room St. Regis hotel in the first 18 floors, along with 432 residential units that vary between studio apartments, one-bedroom, two-bedroom and three-bedroom apartments in the remaining floors.
Also, the observation deck will be accessible from Nakheel mall, an under-construction retail development that is connected to the Palm Tower.
Nakheel properties, which was founded in 2000, has maintained a portfolio of successful projects that include the world-renowned Palm Jumeirah on which the Palm Tower is being developed, Deirah Island, Al Furjan, Jumeirah Islands and Jumeirah Village. The company is considered a significant contributor to achieving the vision of Dubai for the 21st century.